By Giulia Petroni

Telefonica SA said Saturday that its subsidiary Telefonica Brasil SA has submitted a binding offer to acquire bankrupt Brazilian carrier Oi SA's mobile business with TIM SA and Claro SA.

The joint offer is subject to conditions, the telecommunications company said.

Financial details of the deal weren't disclosed.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

July 20, 2020 01:53 ET (05:53 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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