Oi, America Movil, Telefonica to bid for Brazil's TIM, sources say

Oct 31 2014 3:35PM EST | Source: REUTERS Technology

SAO PAULO/MILAN (Reuters) - Brazil's Grupo Oi SA, Mexico's America Movil SAB and Spain's Telefonica SA agreed to place a joint bid worth around 32 billion reais ($13 billion) for TIM Participações SA , two sources with direct knowledge of the matter said on Friday.