Oi, America Movil, Telefonica to bid for Brazil's TIM -sources
By Guillermo Parra-Bernal and Danilo Masoni
SAO PAULO/MILAN Oct 31 (Reuters) - Brazil's Grupo Oi SA, Mexico's America Movil SAB and Spain's Telefonica SA agreed to place a joint bid worth around 32 billion reais ($13 billion) for control of TIM Participações SA, Brazil's No. 2 wireless carrier, two sources with direct knowledge of the situation said on Friday.
While the accord is not yet finalized, the companies agreed to present a single offer to Telecom Italia SpA, which owns about 67 percent of TIM Participações, said the first source, who requested anonymity since the deal is in the works.
A bid could be presented within two weeks, both sources added. The first source said Oi, America Movil and Telefonica hope their bid will not meet too much resistance from antitrust and industry watchdogs in Brazil.
($1 = 2.4550 Brazilian reais) (Reporting by Guillermo Parra-Bernal; Editing by Meredith Mazzilli)
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