TIM Brasil abandons stock sale; blames market conditions

4 Jul 2006

Brazil’s second largest mobile operator by subscribers, TIM Participações (TIM Brasil), has called off a plan to sell shares both at home and overseas. The operator’s controlling shareholder TIM Brasil Serviços e Participações abandoned the move citing a ‘negative performance and growing volatility in capital markets,’ according to Reuters quoting the company’s filing with Brazil’s securities regulator CVM.

Brazil, TIM Brasil