Brazil minister says telecommunications consolidation is natural
SAO PAULO Oct 27 (Reuters) - Brazil understands that the consolidation of its telecommunications sector is a natural process but will act to protect consumers by encouraging competition in the sector, Communications Minister Andre Figueiredo said on Tuesday.
Speaking at an industry event in Sao Paulo, the minister said he is worried about the debt load weighing on Brazil's Oi SA, but added that there are mechanisms to help the company recover without direct government investment.
Oi said on Monday that its financial advisor had received a proposal from Russian investment firm LetterOne Group to invest up to $4 billion in the company if it merges with rival TIM Participacoes SA. (Reporting by Luciana Bruno; Writing by Walter Brandimarte Editing by W Simon)
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