Telecom Italia Ruled out Any Investment in Oi

Published Date : Feb 23, 2015

According to Mr. Marco Patuano, the CEO of Telecom Italia is not going for any deal to unite TIM Brasil, the Brazilian subsidiary of Telecom Italia, with its competitor Oi. Addressing at the presentation of a US$15.85 business plan to speed up the expansion of the fixed and mobile broadband network of Telecom Italia, Mr. Patuano told the viewers that the Oi deal was too complicated to complete. 

Mr. Patuano stated that he has his desk quite full as of now so there is no space for another file that is of Oi, during the presentation of strategies of Telecom Italia for 2015 to 2017, which exhibited how the management is going to focus on bringing the organization back to development by 2017.

In November, 2014, Telecom Italia stated that it would check the option to incorporate its Brazilian unit TIM with competitor Oi to prepare for a major shakeup and a probable consolidation in the telecommunication industry in Brazil.

In Brazil, the organization will invest around US$4.55 billion to broaden its 3G and 4G coverage. In Italy, where it will be investing the remaining funds, the firm plans to expand its fiber-optic service to reach around 75% of the population by 2017. This is likely to boost penetration in terms of subscription.