VENTURE CAPITAL POST

The antitrust regulator of Brazil has instructed Telefonica to bring down its influence in the country's telecommunications business either by reducing its holdings or convincing Telecom Italia to sell its local unit.

Italy-based Telecom Italia told regulators that it did not get any offers for its unit in Brazil and that it intends to keep the unit. The company issued the statement in response to a request from an Italian regulator regarding Telecom Italia's plans for its Brazilian business.

According to sources who were familiar with the deliberations, Telecom Italia SpA obtained the services of Morgan Stanley to decide on the telecommunications company's divestment of its 7,000 tower lot in Brazil.

The following bids, mergers, acquisitions and disposals were reported on Wednesday including Telefonica Deutschland, Devon Energy, Metro AG, Devon Energy Corp and others

Telecom Italia expects to conclude the sale and lease back of its mobile towers in Italy and Brazil next year, its chief executive said on Wednesday, along with a separate sale of some digital broadcasting assets.

Telecom Italia, the largest telecommunications company in Italy, will be selling its controlling stake in Buenos Aires-based Telecom Argentina to investment firm Fintech for EUR4 billion.

The following bids, mergers, acquisitions and disposals were reported on Friday.

The assets it owns in Argentina as well as towers in Italy and Brazil are but some of the assets seeking Telecom Italia seeks to unload.

Telecom Italia, a company considered strategic in the Italian political spectrum, is undergoing a change in leadership.

Due to the loss of support from the largest shareholders of Telecom Italia, CEO Franco Bernabe is planning to submit his resignation on October 3.

Telefonica seeks to retain control over Telecom Italia through buyout of venture partners in Telco.

Spanish telecoms group Telefonica had agreed on Tuesday to increase its stake in Telco, of which the latter is the controlling shareholder of Telecom Italia, via cash-and-share deals.

A government source had told Reuters that Italy would not be intervening on possible takeovers in Telecom Italia and Alitalia.

In order to save the debt of Telecom Italia from being downgraded to junk status, a future with Telefonica SA seems to be the best option available for the Italian telecommunications firm.

Mediobanca, one of the shareholders in Telco SpA who is the majority shareholder in Telecom Italia SpA, announced the cut in its stake in the holdings company, lowering the value of the shares of the telecommunications firm.