- 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%.