Telefonica says trying to appease Brazil regulatory concerns

jueves 31 de julio de 2014 09:23 GYT

MADRID, July 31 (Reuters) - Telefonica's recent reorganisation of its stake in Telecom Italia is aimed at showing Brazilian telecoms regulator Cade that it has no control over the Italian group's local unit Tim Participacoes , an executive said on Thursday.

Telefonica controls Vivo, Brazil's leading mobile operator, and is the biggest shareholder in Telecom Italia , which owns Vivo's rival TIM, a situation which Cade has asked the Spanish group to remedy by next year. (Reporting by Julien Toyer; Editing by Tracy Rucinski)