TIM Brasil to speed up 3-year investment plan

TIM Participacoes, Brazil's third-largest wireless carrier, will speed up its 7 billion reais ($4 billion) investment plan for 2009-2011 to expand voice and data services across the country. As the Brazilian affiliate of Telecom Italia, the company expects to spend 2.4 billion reais this year on investments. Most of the investment would go to improving data transmission services, which are "fast-growing segments" in the Brazilian telecommunications market, he said. TIM Brasil will also focus on fast integration of long-distance operator Intelig into its business, Luciani said. TIM agreed to buy Intelig in an all-stock deal worth about $300 million in April, but the transaction is facing legal hurdles.
A Sao Paulo state court has blocked Intelig's purchase until it pays off about $130 million in labor-related liabilities.