Tele Norte Leste (Telemar) has signed an agreement with Mexico?s America Movil giving the Brazilian ILEC an option to acquire equity in BCP if it?s taken over by the Mexican group. A statement issued by Telemar justified the option for partnership by saying that ?the estimated price of BCP exceeds the amount Telemar deems acceptable in the context of its investment rationalization policy?.
Nothing was disclosed about a percentage limit on the equity Telemar will be able to acquire in BCP, but it will certainly be less than 50% according to Carlos Henrique Moreira, president of Telecom Americas. America Movil controls Telecom Americas.
The BCP data room was also visited by Telecom Italia Mobile (TIM) and Brasil Telecom, besides Telemar and America Movil. The deadline for bids was Tuesday, August 26. Only America Movil publicly said it was bidding. TIM and Brasil Telecom said nothing.