Vodafone is reported to have hired an investment bank to study the possibility of buying a stake in Brazilian mobile network operator, Tim Participacoes. Local daily, O Estado de S. Paulo reported the news, without saying where it got the information from.
The paper added that Vodafone has held talks with Telefonica, which is a shareholder in Telecom Italia - which in turn controls Tim Participacoes.
Vodafone has previously expressed an interest in the Brazilian market. In late 2007, speaking to the Portuguese newspaper, Diario Economico, Vodafone's then CEO Arun Sarin and Portugal CEO, Antonio Carrapatoso discussed the local market and the advantages that having an existing Portuguese operation could bring to the company if it did expand in Latin America.
Commenting on possible plans, Carrapatoso noted that "from time to time, Vodafone looks to the Brazilian market and I have participated in many of these studies." However, he noted that none of the studies suggested an investment - at that time.
Tim Participacoes shares jumped by 5.2% on the rumours.
info at http://www.cellular-news.com/story/44702.php?s=h
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