Telecom Italia announced plans to set controls for future mergers and acquisitions regarding its assets in Brazil to appease minority shareholders, who have called for such action to prevent any conflicts of interest with Spain’s Telefonica operations in the nation.
The Italian telco is set to announce those controls early next month, despite having no merger talks in progress regarding its Brazilian operations TIM.
In the future, however, the company said it will define an ad hoc procedure to review any transactions involving their Brazilian assets as the company looks to increase its transparency with shareholders.