Telecom Italia CEO rules out Oi acquisition, says Tim not for sale
Telecom Italia does not plan to acquire Brazilian mobile telecommunications carrier Oi because the company is currently undergoing a process of organic growth, Folha de S. Paulo reported, citing Telecom Italia’s CEO Marco Patuano.
The CEO was also cited in the Portuguese-language item as saying that the Brazilian market is very dynamic and the company must “keep an eye out” for all its options, while reiterating that this is not Telecom Italia’s priority at the moment.
Telecom Italia is currently working on its 2015-2017 strategic plan, which should be announced to the market in early 2015, Patuano said.
Additionally, the executive has denied that its Brazilian unit Tim is for sale, while not completely dismissing the possibility, the item noted.
In a separate English-language Wall Street Journal report, Patuano was quoted as saying that Tim is not for sale, but Telecom Italia could assess purchase offers depending on price.
According to Patuano, growth prospects in the long term in the Brazilian market are very attractive, the Valor item added.
Source Folha de Sao Paulo, Wall Street Journal