TIM, Telefonica and Claro present binding bid for Oi’s mobile assets

MILAN: Italy’s TIM said its Brazil’s unit had presented a binding offer jointly with Telefonica Brasil and Claro for the mobile unit of bankrupt Brazilian carrier Oi Group.

TIM Brasil SA and Telefonica Brasil said in May they were moving ahead with their takeover of Oi Group mobile assets despite the COVID-19 outbreak.

On Saturday Telecom Italia said the deal could boost growth, improve efficiency and contribute to developing Brazil’s telecoms sector.