New Street: TIMP3 BZ (Buy, TP: BRL22, +57%) VIVT3 BZ (Buy, TP: BRL60, +20%) OIBR3 BZ (Buy, TP: BRL0.9, -10%) Brazilian Wireless Consolidation CADE approves, Anatel considers; BRL25 billion of synergies to shoot for
Brazilian antitrust body, CADE, yesterday approved the Oi sale process. For (UK) football fans, it was briefly reminiscent of Liverpool’s heroic CL comeback in Istanbul in 2005 – Oi and the industry were 3-0 down in votes, and the stocks wobbled, before rallying to a 3-3 vote with the deciding vote in favour going to the CADE President.
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