Tim wins in Brazil. The Brazilian telecommunications authority, Anatel, has decided that the subsidiary of Telecom Italia in Brazil, Participações, will be able to go back to selling the new tariff plans. The Carioca supervisory body has given the green light to the plans presented not only by Tim Brasil but also by the two major competitors, Oi and Claro. Furthermore Anatel has declared that every three months it will carry out careful checks in the telecommunications market. The blockade imposed on Tim Brasil in 19 out of 27 Brazilian states had been decided by the Authority on 23 July, motivated by problems related to network services and customer complaints.
Anatel has announced that Tim Brasil, Oi and Claro will invest a total of 20 billion reais between 2012 and 2014 in order to improve services. Almost 50% of these investments come from the Telecom subsidiary which alone will invest 9,5 billion reais over the three-year period. At Piazza Affari, Telecom Italia shares gained 2,60% to 0,651 euro.
In 2012 Tim "will redistribute investments, allocating 451 million reais to quality improvement projects". The strategic plan approved by Anatel also provides for an improvement of the network (with a 75% increase in voice network capacity) and assistance.
Yesterday the Telecom Italia Group presented first quarter accounts: he returned to profit bringing home 1,2 billion in benefits. Revenues grew by 3,1% to 14,793 billion, EBITDA fell by 1% to 5,9 billion while EBIT rose by 2,4% to 3,2 billion. Adjusted net financial debt decreased by 800 million to 30,360 billion.
