Telecom Italia’s CEO, Marco Patuano, wants Brazil to clarify regulations around fixed line concessions before discussing consolidation, he told Valor Economico in an interview.
Earlier this week it was reported that LetterOne, a private equity firm backed by Russian billionaire Mikhail Fridman, could invest $4 billion into debt-laden fixed-line giant Oi, if it merges with rival TIM Participacoes, TI’s Brazilian unit and the country’s second largest operator.
Patuano (pictured) said before such a deal is discussed, the issue of Oi’s fixed-line concession should be sorted out.
Oi, for its part, said it will carefully evaluate LetterOne’s proposal.
Last month, Patuano said the company will review its strategic plan for the country, with Brazil in the midst of its worst economic recession in a quarter of a century.