Home › Cade to give Telefonica 18 months to comply with ruling
 

Keywords :   


Cade to give Telefonica 18 months to comply with ruling

2013-12-19 10:13:00| Telecompaper Headlines

(Telecompaper) Brazil's anti-trust regulator, Cade, will give Telefonica eighteen months to comply with an ultimatum to scale back its influence in the Brazilian mobile phone market, reports Reuters citing unnamed sources close to the regulator. In a decision issued on 05 December, Cade ordered Telefonica to either sell its interest in TIM Participacoes (Tim Brasil), the local unit of Telecom Italia, or find a new partner for its own Vivo unit. The regulator has now specified that Telefonica has a timeframe of eighteen months in which to comply, having earlier stated that it would only decide on the fate of TIM Brasil after Telecom Italia shareholders resolve their dispute with the Spanish company. Smaller shareholders, headed by the Findim Group of Marco Fossati, have called a vote on 20 December to seek the dismissal of Telecom Italia's board.

Tags: with give months comply

Category:Telecommunications

Latest from this category

All news
»
06.10Hurricane Leslie Graphics
06.10Hurricane Kirk Graphics
06.10Hurricane Leslie Forecast Discussion Number 15
06.10Hurricane Leslie Wind Speed Probabilities Number 15
06.10Hurricane Leslie Public Advisory Number 15
06.10Summary for Hurricane Leslie (AT3/AL132024)
06.10Hurricane Leslie Forecast Advisory Number 15
06.10Hurricane Kirk Forecast Discussion Number 27
More »