Shares of Brazil's Oi soar on potential Telecom Italia takeover
SAO PAULO, Sept 16 (Reuters) - Shares of Brazilian telecommunications firm Grupo Oi SA jumped their most since mid-July on Tuesday after Bloomberg reported that Telecom Italia SpA is considering taking over the company to counter rival Telefonica SA in Latin America's largest phone market.
Telecom Italia spoke to advisers about using its Brazilian unit, TIM Participacoes SA to buy Oi, but no approach has been made, Bloomberg reported, citing three sources familiar with the discussions.
At 12:37 p.m. local time (15:37 GMT), Oi shares were at auction after rising 11.92 percent to 1.69 reais, while shares of TIM Participacoes were down 2.25 percent to 13.46 reais. (Reporting by Asher Levine, Editing by Franklin Paul)
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