Shares of Brazil telecom firms Oi and TIM jump on potential deal

miércoles 27 de agosto de 2014 09:17 GYT
 

SAO PAULO Aug 27 (Reuters) - Shares of Brazilian telecommunications firm Grupo Oi SA jumped on Wednesday after the company announced it had hired investment bank Grupo BTG Pactual SA to advise on a plan to win control of rival TIM Participacoes SA.

Shares of Grupo Oi rose 8 percent to 1.48 reais shortly after opening, while shares of TIM Participacoes, the Brazilian mobile unit of Telecom Italia SpA, rose 6.29 percent to 12.16 reais. (Reporting by Asher Levine,Editing by Franklin Paul)