Telecom Italia Plans $4.2 Billion Brazilian Investment

Telecom Italia has said that it will invest EUR3 billion (US$4.2 billion) over the next three year on its Brazilian operation, TIM Participacoes. In an interview with the local Folha de S. Paulo newspaper, Telecom Italia Chairman Gabriele Galateri said that developing wireless broadband services offered more solid opportunities than landline services.

He noted that the company has already invested EUR10 billion (US$14 billion) in the country over the past ten years.

TIM Participacoes ended Q1 '09 with 36.1 million clients and a market share of 23.5%.

On the web: Folha de S. Paulo

Posted to the site on 6th July 2009