Oi Said Close to $1 Billion Credit Line for Potential Tim Deal

  • Telecom company negotiating credit with two banks, source says
  • Oi has been pursuing a merger with Telecom Italia's Tim

Brazilian wireless carrier Oi SA is negotiating with two banks to provide as much as $1 billion in credit to refinance short-term debt as it prepares to make an offer to merge with competitor Tim Participacoes SA, according to a person with knowledge of the matter.

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