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L1 withdraws offer to support Oi after TIM walks away

2016-02-26 09:29:00| Telecompaper Headlines

(Telecompaper) Brazilian operator Oi announced that LetterOne Technology (L1 Technology) has issued a press release stating that it has been informed by TIM that TIM does not wish to enter into further discussions about a business combination with Oi in Brazil. L1 Technology said that, without TIM's participation, L1 Technology can't proceed with the proposed transaction as previously envisaged. Given this information, Oi said it will evaluate the impact of the possibility of consolidation of the Brazilian market.

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Category:Telecommunications

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