Telecom Italia CEO says mandatory to explore tie up with Brazil's Oi

viernes 7 de noviembre de 2014 08:47 GYT

MILAN Nov 7 (Reuters) - Telecom Italia Chief Executive Marco Patuano said on Friday the company must explore the possibility of buying Brazilian telecoms operator Oi or merging it with its local unit TIM Participacoes .

Asked about whether the Italian group could be interested in a purchase or a merger with Oi, Patuano told analysts on a conference call: "I think that it is mandatory to explore the possibility of such a big strategic opportunity."

Speaking in English, Patuano added any deal would have to respect the group's "financial discipline" and create value for shareholders: "We are not desperate and we don't want to make a deal at any cost." (Reporting by Danilo Masoni, editing by Silvia Aloisi)