Two major deals involving European investments in Brazil are in the offing. In Italy, it is reported that Telecom Italia is likely to sell its stake in Brasil Telecom – held through a 38% shareholding in Solpart, a company that owns 51% of the telco – for $515 million (€373.8 million) later this week. Meanwhile Spain’s Telefónica has just confirmed it is in talks to buy Portugal Telecom’s 32.3% indirect stake in the Brazilian wireless operator Vivo, which is currently jointly owned by the two companies. A fee of up to €3 billion is understood to be involved.
