Tags: Verizon | Tim | Vodafone | bidding

Vodafone Is Said to Decide Against Bidding for Tim Participacoes

Monday, 07 Oct 2013 02:03 PM

Vodafone Group Plc isn’t interested in bidding for Brazil’s Tim Participacoes SA, a person with direct knowledge of the company said, refuting speculation that the U.K. carrier might make an offer.

Vodafone has no plans to buy a Tim stake and isn’t holding talks with the company’s owner, Telecom Italia SpA, said the person, who asked not to be identified because the deliberations are private. Analysts at BTIG LLC and Brandes Investment Partners have cited Vodafone as a potential suitor for Tim, Brazil’s second-biggest wireless carrier.

Telecom Italia’s financial troubles and management changes have fueled speculation that the company will put Tim on the block. Chief Executive Officer Franco Bernabe, who opposed the idea of selling Tim, resigned from the Italian company last week following a dispute over strategy with shareholders. Another option for Tim would be to divide its assets and subscribers among its Brazilian rivals, according to Barclays Plc.

Vodafone, meanwhile, stands to get $130 billion from the sale of its stake in Verizon Wireless, giving it a windfall to use for potential deals. The Newbury, England-based company declined to comment on any acquisition plans, as did a spokesman for Telecom Italia.

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Vodafone Group Plc isn't interested in bidding for Brazil's Tim Participacoes SA, a person with direct knowledge of the company said, refuting speculation that the U.K. carrier might make an offer.
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2013-03-07
Monday, 07 Oct 2013 02:03 PM
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