Telecommunications giant Telefonica is moving ahead with plans for a joint offer takeover of TIM Brasil.

The joint offer according to sources quoted in Italian newspaper Il Sole 24 Ore (which owns a stake in TIM Brasil), is part of Telefonica’s plan to acquire and break up the unit.

The joint offer could potentially be ready by the end of this month. News of the potential purchasing plan comes despite pressure on the telecommunication giant to reduce its grip of the Brazilian telephone market.

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