By Mauro Orru
Bankrupt Brazilian carrier Oi SA has proposed granting a privileged bidding status to a consortium of TIM Participacoes S/A, Telefonica Brasil SA and Claro SA to acquire its mobile business, Telecom Italia SpA said Tuesday.
Oi proposed the stalking horse status for the consortium, allowing the three bidders the right to top potential counterbids from other companies, said Telecom Italia, which is the parent company of TIM.
Oi's proposal will be effective if approved by its creditors at a meeting on Tuesday.
The consortium have presented a binding offer of 16.5 billion Brazilian reais ($3.11 billion) for Oi's mobile business.
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