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Brazil: As returns look up, Tim discounts sell-off pressure

By  |  November 28, 2013

Brazil-based telco conglomerate Tim is reportedly discounting calls to sell the company off by its largest shareholder Telefonica.

Tim reportedly had a financially successful year and as a result argues that the wireless market in Brazil is sustainable. Parent company Telecom Italia has vowed to maintain control of the company.

Tim remains Brazil’s second-largest wireless company with earnings growing by 4 percent in the third quarter compared with the same period the year prior, even with the strict competitive ecosystem of Brazil’s wireless industry.

Full Content: Bloomberg

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