Brazil telecom group Telemar eyes acquisition

SAO PAULO, Jan 9 (Reuters) - Brazilian telecommunications group Telemar Participacoes (TNLP4.SA)(TNE.N) said on Wednesday it had hired financial advisers to study potential acquisitions and an overhaul of its shareholder structure.

The announcement comes just days after weekly news magazine IstoE reported that Telemar had made an offer for rival telecoms group Brasil Telecom Participacoes BRTP4.SABRP.N, whose controlling shareholders include several state-run pension funds and Citigroup (C.N).

Telemar, also known as Oi Participacoes, said in a statement to Brazil's securities regulator that it was studying potential acquisitions in three areas of business: fixed-line and mobile telephony, Internet, and pay television.

The statement did not name any takeover targets. On Monday, both Telemar and Brasil Telecom declined to comment on a potential tie-up between the two companies.

Telemar added that it was studying ways to rebuild its shareholder structure, which currently includes of a complex web of holding companies and share categories. The company has tried to overhaul its shareholder structure in the past but ran into opposition from minority shareholders.

Telemar's non-voting shares have surged more than 15 percent and Brasil Telecom shares have climbed almost 7 percent in the last two sessions on the takeover talk.

(Reporting by Todd Benson)