Brazilian fixed and mobile operator TIM Participacoes (TIM Brasil), which acquired AES Atimus group for EUR700 million (USD998 million) in July 2011 to expand its network capacity in Rio de Janeiro and Sao Paulo, plans to launch ultra-high speed broadband services next year, and targets one million residential customers by 2016. By that date TIM Brasil and AES hope the venture, which is named TIM Fiber, will be generating additional revenues of BRL1 billion (USD559 million) per annum. The takeover deal completed in October this year and cost TIM Brasil around BRL1.6 billion. The newly named TIM Fiber business owns and operates 5,500km of urban fibre-optic networks between the states of Rio de Janeiro and Sao Paulo. It aims to deliver maximum transmission speeds of 100Mbps to the residential market. ‘TIM Fiber will allow us to offer faster access for both fixed and mobile connections across Latin America, with very encouraging prospects,’ said Luca Luciani, CEO of TIM Brasil.