Brazil slowing down in the third quarter for the Telecom Italia group. The subsidiary Tim Participacoes closed the July-September period with a net profit of 318 million reais (157 million dollars), practically stable (+0,4%) compared to the same period of 2011.
Revenues rose by 8%, to 4,77 billion reais. In the third quarter of last year, turnover had recorded a double-digit increase (+19%) compared to 2010.
Despite the difficult third quarter, the CEO Andrea Mangoni confirmed, during a conference call, the objectives for the 2012 financial year.
