SAO PAULO, Dec 11 (Reuters) - TIM Participações SA, Brazil’s second-largest wireless carrier, is carefully monitoring the nation’s telecommunications market for possible consolidation moves, and is under no pressure to make a deal, Chief Executive Officer Rodrigo Abreu said on Thursday.
The Brazilian market has enough size to accommodate four major companies, Abreu said at an event in São Paulo. Only one of Brazil’s four main industry players, which he did not mention, is struggling with profitability and other issues, Abreu said
“We’re proactively monitoring the environment,” Abreu said. “We’re not waiting to see what happens.”
In the past year Telecom Italia SpA, TIM’s largest shareholder with a 67 percent stake, has taken steps to reduce debt, increase investment and build up an “enviable” cash position, Abreu added. (Reporting by Brad Haynes; Editing by Guillermo Parra-Bernal and Chizu Nomiyama)