TELEFÔNICA BRASIL S.A.
CNPJ MF 02.558.157/0001-62 - NIRE 35.3.001.5881-4
Telefônica Brasil S.A. ("Company"), in the manner and for the purposes of CVM Instruction No. 358/2002, as amended, hereby informs the shareholders and the market in general that, on this date, the Company and TIM S.A. expressed to Bank of America Merrill Lynch ("BofA"), financial advisor to Grupo Oi, their interest in start discussions in view of a potential joint acquisition of Grupo Oi's mobile business, as a whole or partially, so that, in case of completion of the operation, each of the interested parts will receive a portion of the aforementioned business.
The transaction, if completed, will create value for our shareholders and customers through greater growth, generation of operational efficiencies and improvements in service quality. In addition, it will contribute to the development and competitiveness of the Brazilian telecommunications sector.
Any relevant information on this subject will be promptly reported to the market.
São Paulo, March 10, 2020.
David Melcon Sanchez-Friera
CFO and Investor Relations Officer
Telefônica Brasil - Investor Relations
Tel: +55 11 3430-3687
Information available at: www.telefonica.com.br/ir
Telefônica Brasil SA published this content on 10 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 March 2020 01:39:06 UTC