Telecom Italia has valued its 67 per cent stake in TIM Brasil at around €13 billion ($16.8 billion), amid reports that Brazilian operators Oi and America Movil are closing in on the Italian company's unit.
Telecom Italia is at something of a crossroads in Brazil, as the company considers how to proceed following the failure so far of its plan to buy Vivendi's Brazilian broadband unit GVT and merge it with TIM Brasil.
América Móvil is anxious to shed some of its wireline and wireless assets so it can gain regulatory freedom, but Mexico's Federal Institute of Telecommunications (IFT) told company owner Carlos Slim that the company can't present a plan until it names a buyer.
Broadcast and media player Grupo Televisa created some new waves in the Mexican telecommunications market by acquiring cable TV operator Cablecom at the same time the government is trying to encourage more outside investment.
Telekom Austria shareholders approved plans to raise the operator's share capital by €1 billion ($1.34 billion), with 98.1 per cent of the votes cast in favour of the move.
Telekom Austria predicted a higher drop in 2014 sales than it previously forecast after reporting bigger-than-expected declines in second-quarter earnings and revenue, and a net loss of over €300 million ($400 million) for the first half of the year.
América Móvil cleared a key hurdle in moving ahead with its plan to merge its three Brazil-based service providers--Claro, NET Servicos and Embratel--into a single company as Brazil regulator Anatel approved the plan.
Dutch operator KPN predicted its financial performance will stablise towards the end of 2014, after its second quarter earnings exceeded analyst estimates thanks to customer gains and cost cuts.
Carlos Slim may have gained majority control over Telekom Austria, but the Austrian state has indicated that it has every intention of maintaining its minority stake in the operator.
América Móvil does not have any plans to acquire a U.S. carrier, the company's management said during the carrier's second quarter earnings call. The statement serves to squash speculation that América Móvil might purchase T-Mobile US with the money it expects to raise through a sale of its assets.