Brazil's TIM denies seeking merger, takeover of rivals GVT, Oi

viernes 18 de julio de 2014 17:10 GYT
 

SAO PAULO, July 18 (Reuters) - TIM Participações SA , Brazil's second-largest wireless carrier, on Friday denied being in negotiations with rivals Grupo Oi SA and GVT SA for a combination or a takeover.

In a securities filing, TIM dismissed a Valor Econômico newspaper report earlier in the day saying that recent woes clouding a merger between Oi and Portugal Telecom SGPS SA was forcing GVT to pursue a tie-up with TIM.

"We come here to inform our shareholders, markets in general and whom this may concern that there is no negotiation in place between the company and Oi, or the company and GVT, involving any potential acquisitions or business combination - as cited by the report," the filing noted. (Reporting by Guillermo Parra-Bernal; Editing by Lisa Shumaker)