TIM Brasil to ratchet up three-year spending plan

7 Oct 2009

TIM Participacoes (TIM Brasil), an affiliate of Telecom Italia, plans to speed up its BRL7 billion (USD4 billion) investment in Brazil for the period 2009-2011, according to Reuters quoting CEO Luca Luciani as saying. The company hopes to expand its voice and data services coverage across the entire country, Luciani said, adding that in 2009 alone, investments will total BRL2.4 billion to improve ‘fast-growing segments’ including data transmission services such as 3G.

TIM Brasil is also looking to focus on the fast integration of Brazilian long-distance operator Intelig this year. TIM Brasil agreed to buy the company for USD300 million in April but its bid to complete the transaction is being stymied by a number of legal hurdles. A Sao Paulo state court has reportedly blocked the deal purchase until TIM Brasil pays off about USD130 million in labour-related liabilities.

Brazil, TIM Participacoes (TIM Brasil)