Agence France-PresseDecember 5, 2013 10:31
Spanish telecom giant Telefonica must either share control of Vivo Brasil or relinquish its stake in local operator Tim, Brazil's government anti-trust authority Cade ruled.
In a decision made in Brasilia Wednesday, Cade decided that a new partner for Vivo, Brazil's biggest mobile phone carrier, cannot own a stake in another rival in this country.
Telefonica took a controling stake in Vivo in 2010. Then, in September, it also increased its share to 66 percent in the parent company of Tim, Brazil's second largest phone carrier.