Telefonica's deal on Telecom Italia seen winning Brazil OK - sources
MILAN, Sept 24
MILAN, Sept 24 (Reuters) - The agreement between Telefonica and the Italian investors in Telco, the holding company that controls Telecom Italia, is expected to win regulatory approval in Brazil, two sources close to the situation said on Tuesday.
Under the terms of the agreement announced on Tuesday, the Spanish group could gradually get full control of Telco, a move that could create antitrust problems in Brazil where Telefonica and Telecom Italia are direct competitors.
"Now the agreement must be presented to (Brazilian regulators) Anatel and Cade but I don't expect problems," one of the sources said.
Telecom Italia controls Brazilian mobile phone company TIM Participacoes, a rival of the Spanish group's Vivo. Telecom Italia also controls Telecom Argentina. (Reporting by Stefano Rebaudo, editing by Danilo Masoni)
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