Spain's Telefonica said it was not thinking of making a joint bid for TIM Brasil, the Brazil-based wireless network operator of Telecom Italia, Reuters reported.
TIM Brasil
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Italian newspaper Il Sole 24 Ore said Telefonica is planning a joint offer of TIM Brasil, the local wireless unit of Telecom Italia, Reuters reported.
Telecom Italia's activist investor Marco Fossati campaigned against the enforced sale of TIM Brasil. Brazil's competition regulatory body ruled earlier this week that Telecom Italia must divest its stake in the Brazilian mobile carrier.
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