Telecom Italia: unveils USD1.16bn investment plan for TIM

4 Dec 2008

Telecom Italia (TI) estimates it will invest BRL2.8 billion (USD1.16 billion) in its Brazilian operation TIM Brasil in 2009, BNamericas reports citing CEO Franco Bernabe as saying. Total CAPEX for 2008 is expected to reach BRL3.7 billion, and capital expenditure in 2011 is forecast at around 13.5% of revenues Bernabe said. ‘Over the next three years we will continue to invest in innovation with the target of making TIM a reference brand for convergent products,’ the CEO added. Bernabe said that TI expects TIM to book revenues of BRL15.3 billion for 2009, with revenue in Brazil estimated to grow at a CAGR of 8% during the 2008-2011 period.

Brazil, TIM Participacoes (TIM Brasil)