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Telecom Italia has no intention to merge Tim Brasil with Oi
January 10, 2017 / 7:45 AM / 10 months ago

Telecom Italia has no intention to merge Tim Brasil with Oi

MILAN (Reuters) - Telecom Italia (TLIT.MI) has no intention of merging its TIM Participações SA (TIMP3.SA) unit with Brazilian wireless carrier Oi SA (OIBR4.SA), a spokesman for Telecom Italia said on Tuesday.

The Telecom Italia logo is seen at the headquaters downtown Milan, Italy, March 10, 2016. REUTERS/Stefano Rellandini /File Photo

“Reports on the matter are groundless,” the spokesman said.

On Monday Egyptian billionaire Naguib Sawiris told newspaper Folha de S.Paulo Oi could be merged with TIM Participações if his bid for the troubled carrier was successful.

Reporting by Stephen Jewkes, editing by Giulia Segreti

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