27 de octubre de 2015 / 9:29 / en 2 años

Telecom Italia CEO says needs clear rules in Brazil before any M&A-paper

MILAN, Oct 27 (Reuters) - Brazil must clarify rules regulating fixed-line concessions before any consolidation in the country’s telecoms industry involving Telecom Italia’s local unit can be discussed, the head of the Italian phone group was quoted as saying.

Telecom Italia controls Brazil’s mobile operator TIM Participações. Russian billionaire Mikhail Fridman is considering investing up to $4 billion into Brazilian telecommunications company Oi if it merges with TIM Brasil.

Telecom Italia CEO Marco Patuano told Brazilian newspaper Valor Economico that if Fridman wanted to discuss an industrial operation, the issue of Oi’s fixed-line concession had to be dealt with beforehand, according to an extract of the interview forwarded by Telecom Italia.

Reporting by Stefano Rebaudo, Editing by Crispian Balmer

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