Telecom Italia to endow $1.16bn in TIM (Brazil)
Telecom Italia (TI), is intending to invest US$1.16billion for 2009 Brazilian operation, said, company’s CEO Franco Bernabe. TI is operating as local mobile operator TIM. “Over the next three years we will continue to invest in innovation with the target of making TIM a reference brand for convergent products,” the executive added. TI is expecting TIM revenues for 2009 to be in range of 15.3bn reais, with revenue in Brazil estimated to grow at a CAGR of 8% during the 2008-11 periods.
