February 12, 2020 / 2:38 PM / 14 days ago

Brazil's TIM says rules for 5G auction depend on market consolidation - CEO

SAO PAULO, Feb 12 (Reuters) - Brazilian carrier TIM Participacoes SA expects the country’s 5G auction will take place once market consolidation accelerates in coming months, Chief Executive Officer Pietro Labriola said on Wednesday, adding the company is ready to make acquisitions.

“It’s quite difficult to define rules for 5G once market consolidation is not yet defined and one player is the trigger to accelerate this whole process,” Labriola told analysts and investors in a call to discuss quarterly earnings. His remarks come more than a month after struggling rival Oi, which filed for bankruptcy protection in June 2016, acknowledged hiring financial advisors to put a value on its mobile unit. (Reporting by Gabriela Mello Editing by Chizu Nomiyama )

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