Tim Participacoes SA sank the most in six weeks after Telecom Italia SpA, the mobile-phone service provider’s parent company, signaled that it might not sell the Brazilian unit as part of a plan to reduce debt.
Brazil’s stock exchange is winning support for a proposal to create a takeover panel to speed up conflict resolution after deals as large as Oi SA’s $3.52 billion takeover of Brasil Telecom Participacoes SA were held up for four years.
Oi SA’s merger with Portugal Telecom SGPS SA is likely to bolster Brazil’s largest landline phone carrier as it battles better-equipped rivals in the world’s fifth-biggest wireless market. The shares fell on concern it won’t be enough.
Anhanguera Educacional Participacoes SA , a Brazilian administrator of private universities, plans to list its stock on the Novo Mercado section of the Sao Paulo exchange and sell as many as 20 million new voting shares.
MMX Mineracao & Metalicos SA, the miner controlled by Brazil’s richest man Eike Batista, said it’s not interested in a deal with Ferrous Resources Ltd. after the closely held iron-ore producer proposed a takeover.