Telefonica, TIM and Claro confirm exclusive talks for Brazil’s Oi mobile assets

SAO PAULO: TIM Participacoes, Telefonica Brasil and America Movil’s Claro won exclusive rights to negotiate the purchase of Brazilian telecoms firm Oi SA’s mobile assets, the companies said in a filing on Friday.

If the telecoms reach an agreement with Oi in the coming days, they will have the right to match any other higher bid for bankrupt Oi’s cellular operations that other parties could make later. Reuters reported on the talks earlier on Friday.

Oi said exclusive negotiations will occur until Aug. 11, but it can be extended for more four days.