Telefonica Brasil says rivals more interested in consolidation
SAO PAULO May 13 (Reuters) - Telefonica Brasil SA may be the mobile operator with the least interest in a consolidation of the Brazilian market, a senior executive said on Wednesday, signaling little enthusiasm for a potential mega-deal that seems to have lost momentum.
"Our market position keeps getting stronger," said Chief Financial Officer Alberto Horcajo on a call with journalists. "So if we can keep our clients and win new ones, what's the sense in paying to buy a new client base from someone without our strengths?"
Rival telecom Oi SA hired investment bank BTG Pactual last year to negotiate a possible deal to buy mobile carrier TIM Participações and split it three ways with Telefonica and America Movil SAB. (Reporting by Brad Haynes and Luciana Bruno)
© Thomson Reuters 2016 All rights reserved.