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Telefonica sees Brazil OK for Telecom Italia buy

Thu Oct 11, 2007 11:41am EDT

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MADRID, Oct 11 (Reuters) - Telefonica (TEF.MC) expects Brazilian regulator Anatel to clear the Spanish telecom giant's purchase of an 18 percent stake in Telecom Italia (TLIT.MI) in a decision later this month.

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"We expect a decision, a positive decision in the second half of October," Chairman Cesar Alierta told investors at a presentation in London on Thursday.

Anatel needs to approve the deal because both Telefonica and Telecom Italia run mobile phone businesses in Brazil.

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