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Telecom Italia (TI -3.3%) is acquiring Brazilian fiber optic network owner AES Atimus, a unit of...
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Friday, July 8, 2011, 9:01 AM ETTelecom Italia (TI -3.3%) is acquiring Brazilian fiber optic network owner AES Atimus, a unit of American power company AES, for approximately $1B. Telecom Italia, which already controls Brazil's 3rd-largest wireless carrier, expects the AES Atimus deal to "provide savings worth 1 billion Brazilian reais [$641M] over three years."
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