MILAN, Nov 11 (Reuters) - The board of Telecom Italia could meet as early as next week to discuss possible M&A operations in Brazil, two sources familiar with the situation told Reuters on Tuesday.
Telecom Italia controls Brazil’s No. 2 wireless operator TIM Participacoes, which is seen as a likely candidate to take part in an expected consolidation of the local market.
One of the sources said among the operations that could be examined was a tie-up with Brazilian telecoms operator Oi .
According to the sources the board could give Telecom Italia’s management a mandate to carry out an in-depth evaluation of some options. Any operation would take time and it is not certain that it would be successful, the sources added.
Telecom Italia declined to comment.
On Friday, Telecom Italia CEO Marco Patuano said the group was ready to explore the possibility of buying or merging with Oi. (Reporting by Danilo Masoni, editing by Silvia Aloisi)