Brazil regulator has not ruled out TIM breakup -source
BRASILIA Dec 9 (Reuters) - Brazil's antitrust regulator has not ruled out the possible division of wireless company TIM Participações SA into units to be bought up by local rivals, a government source familiar with the agency's reasoning told Reuters on Monday.
Last week antitrust watchdog Cade issued a decision requiring Spain's Telefonica SA to exit its indirect stake in TIM or find a new partner for its own local wireless unit, known as Vivo.
In the ruling, Cade said TIM, the Brazilian affiliate of Telecom Italia, could not be sold entirely to another wireless company operating in Brazil. That prohibition would not necessarily hold if TIM were broken into smaller units, the government source said, adding that such a scenario would be evaluated on a case-by-case basis.
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