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Brazil’s TIM boosts investment to $1.42bn
14 April 2010
TIM Participacoes, the Brazilian mobile operation of Telecom Italia, will invest $1.42bn in 2010, up from last year’s $1.23bn
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Telecom Italia’s Brazilian subsidiary, TIM Participacoes, is planning to invest about $1.42 billion in its 2010 operations, according to reports. The company invested nearly $1.23 billion in its operations last year.
TIM Participacoes will be exclusively generating the funds from its local division. The company is projecting an increase of over 5% in its net revenue in 2010. The group’s net revenue in 2009 was about $7.26 billion.
TIM Partcipacoes is the third-largest local mobile phone operator, following Vivo Participacoes and Claro. GTB