 Telecoms Tim Participacoes , Telefonica Brasil and America Movils Claro on Monday night raised their bid to buy Oi SAs mobile assets out of bankruptcy for 16.5 billion reais 3.21 billion. The new offer comes after Oi said it had begun exclusive talks with another potential buyer, called Highline do Brasil, a portfolio company of U.S. private equity firm Digital Colony. Oi has not disclosed the value of Highlines offer, but said it was above 15 billion reais. 