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Vodafone Looks to Enter the footballing nation

The big red continues to expand its horizons evermore with each passing day. This time the target for Vodafone’s rapid expansion plan is TIM Brasil. TIM Brasil is a unit of Telecom Italia and is one of the four companies that ply in the Latin American country where 80% of the total 190 million population keep a mobile phone in hand. This comes in the wake of acquisitions by Telefonica, a Spanish wireless carrier and Portugal Telecom in the Brazilian market. Telecommunications over the years has become one of the more dynamic industries in the fast-growing Brazilian economy in the past one year. This has happened as a direct result of the resilience of the job market and a steadily growing total family income. A trend has emerged amongst the bigger groups who are now gradually acquiring the smaller rivals in order to integrate services and monopolize services like pay-TV and Internet connections

According to a local newspaper, that goes by the name, O Estado de Sao Paulo, Vodafone held negotiations with Telefonica, a company holding an indirect stake in the parent unit Telecom Italia. The Spanish company Telefonica has a stake in Telco, a consortium that has a 24.5% stake in Telecom Italia.

Recently there was a report that Telefonica were looking to acquire a local service provider Vivo and in the process the local regulatory board intended to force them to let go of their stake in TIM Brasil to avoid a clash of interests. Vodafone in turn intend to acquire this very stake in TIM Brasil. A complicated process is involved in the matter and experts believe that the deal will eventually fail to materialize but reports in the press believe the deal will be in place soon. If this is true, then the largest telecom company in the world might just be that bit larger soon.