Oi, rivals agree to bid for Brazil's TIM, Folha says

Oct 31 2014 8:53AM EST | Source: REUTERS Technology

SAO PAULO (Reuters) - Mexico's America Movil SAB, Spain's Telefonica SA and Brazil's Grupo Oi SA agreed to bid for TIM Participações SA then to break up Brazil's second-largest wireless carrier, newspaper Folha de S. Paulo reported on Friday.