Tuesday, 26 September 2017

Investor pledges to plough $4bn into merged Oi, TIM

By Mary Lennighan, Total Telecom
Monday 26 October 15

Brazilian operator confirms receipt of a proposal from Letter One that could lead to consolidation.

An investment group has offered to plough US$4 billion (€3.6 billion) into Brazil's Oi if it merges with local rival TIM Brasil. Letter One, which was founded by Russian billionaire Mikhail Fridman, made the offer late last week via BTG Pactual, the investment bank that Oi hired to advise it on its options regarding a possible move for TIM over a year ago…

An investment group has offered to plough US$4 billion (€3.6 billion) into Brazil's Oi if it merges with local rival TIM Brasil. Letter One, which was founded by Russian billionaire Mikhail Fridman, made the offer late last week via BTG Pactual, the investment bank that Oi hired to advise it on its options regarding a possible move for TIM over a year ago…

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