TIM to pour EUR3bn into Brazil by 2011, paper says

7 Jul 2009

The chairman of Telecom Italia Mobile (TIM), Gabriele Galateri, says the firm intends to invest EUR3 billion (USD4.2 billion) in its Brazilian unit between now and 2011, according to local newspaper Folha de S. Paulo. TIM Participacoes, trading as TIM Brasil, is the country’s third largest wireless carrier by subscribers and has ambitious plans to expand its broadband internet services in Brazil. Galateri reportedly sees the business potential of mobile broadband because of weaknesses in the country’s fixed network infrastructure.