Telco, Telecom Italia must launch bid on TIM Brasil minority shareholders (Brazil)

January 23, 2009 at 20:38 Leave a comment

Dow Jones reports that the Brazilian market authority Commissao de Valores Mobiliarios has asked Telecom Italia’s (TI’s) controlling shareholder Telco to launch a bid on the minorities of its Brazilian unit TIM Participacoes (TIM Brasil). Telco, a holding company which includes Italian banks Intesa Sanpaolo and Mediobanca, insurance group Generali and the Benetton family, together with Spanish phone giant Telefonica, holds 24.5% of Italy’s largest telecoms operator. TI indirectly controls about 69.8% of TIM Participacoes’ share capital. TIM Participacoes has a market capitalisation of USD3.9 billion.

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Entry filed under: Brazil, Mobile Network Operator, Telecom Italia, TIM, TIM Brasil. Tags: , , , , .

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