Brasília – The chairman of Telecom Italia, Marco Patuano, has said this Tuesday (18th) that TIM will invest over R$ 11 billion (US$ 4.59 bn) in Brazil by 2016, and plans on taking part in telephony sector auctions. Telecom Italia is the controller of the mobile telephony operator. “We are interested in new frequencies from the day they are made available. Brazil is a priority market,” he said. According to him, the company will invest R$ 4 billion (US$ 1.6 billion) in the country in 2014.
Concerning rumours of an eventual sale of TIM, Patuano has said “there are no offers or talks underway at this time.” “I have never seen a situation where a company on the verge of bankruptcy steps investment. Last year, we have increased investment by R$ 500 million (US$ 208 million) and this year it will be higher,” said the Telecom Italia chairman following a meeting with Brazil’s Communications minister Paulo Bernardo.
Regarding the possibility of a TIM-GVT merger, Patuano said there is a lot of speculation about it. “The two companies have complementary positions. TIM is a very good mobile telephony company, and GVT is a great fixed telephony company. Thus, it can be said that it would be a great match. However, no talks are taking place right now,” said Patuano.
*Translated by Gabriel Pomerancblum
