BRASILIA, Sept 10 (Reuters) - Telecom Italia SpA has yet to propose or inform the price it is seeking for its Brazilian subsidiary, TIM Participações SA, the chief executive of the unit said on Wednesday.
TIM Participações will evaluate any potential takeover bids, Chief Executive Rodrigo Abreu told reporters in Brasilia. He added that investment banking firm Grupo BTG Pactual SA has yet to reach out the company to detail a potential bid.
BTG Pactual was named by Grupo Oi SA, one of TIM’s four rivals in Brazil, as a merchant commissioner in charge of seeking ways to bid for TIM. (Reporting by Leonardo Goy; Writing by Guillermo Parra-Bernal; Editing by Chizu Nomiyama)