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Oi, Tim Sink on Report Regulator Plans Sanction: Sao Paulo Mover

Oi SA and Tim Participacoes SA fell the most on Brazil’s benchmark stock index after a newspaper reported they may be blocked from selling mobile plans to new subscribers as complaints mount.

Oi slid 4.5 percent to 9.17 reais at the close in Sao Paulo, its biggest drop since May 23. Tim declined 2.8 percent to 9.46 reais, the lowest since Feb. 10. The Bovespa advanced 1.2 percent.

“This is a bad sign for investors as such an extreme measure would only be taken when the situation has really deteriorated,” Karina Sanches, an analyst at Concordia SA, said by phone from Sao Paulo. “The impact of the sanctions will depend on the terms and duration.”

Anatel, the federal telecommunications regulator, has decided to put restrictions on Tim, Oi and Claro, the mobile service controlled by the billionaire Carlos Slim, Folha de S.Paulo said today.

Tim, Oi and Anatel press officials declined to comment. A Claro official didn’t immediately respond to phone and e-mail messages seeking comment.

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