August 6, 2014 / 10:32 AM / 4 years ago

Telecom Italia CEO says will not make "crazy" acquisitions in Brazil

MILAN, Aug 6 (Reuters) - Telecom Italia CEO Marco Patuano said the group will assess M&A options for its Brazilian unit TIM Brasil but will not make “crazy offers”.

On Tuesday, Spain’s Telefonica made a surprise 6.7 billion euro ($9 billion) bid for Vivendi’s Brazilian broadband unit GVT, raising speculation the Italian group could consider a counter bid.

Telecom Italia has not ruled out the possibility of merging GVT with TIM Brasil to bolster its broadband base.

Patuano also said that the sale of its Brazilian towers was close to completion. (Reporting by Danilo Masoni, editing by Silvia Aloisi)

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