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Telecom Italia gears up in Brazil

Jan. 30, 2015 10:31 AM ETTelecom Italia S.p.A. (TIIAY) StockAMX, VIV, OIBZQ, TIIAYBy: Jason Aycock, SA News Editor24 Comments
  • After meeting with Brazil's communications minister, Telecom Italia (NYSE:TI) CEO Marco Patuano says TI will invest "much more" in the country.
  • Slowing user growth means Brazil is headed for the same intense mobile competition other countries are experiencing, though Patuano says he didn't talk about consolidation in his meeting.
  • TI's board did begin investigating a merger of its Brazilian subsidiary Tim Participacoes with Oi (OIBR) -- even as Oi tries to assemble a joint bid along with competitors like America Movil (AMX -2%) to buy (and break up) Tim.
  • OIBR is off 8.3%; Telefonica Brasil (NYSE:VIV) is down 4.8%.

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