ADVFN - Advanced Financial Network.
HOME» NYSE » T » TSU Stock Price » TSU Stock News

Tim Participacoes Share News

 Tim Participacoes S.a. Stock Price
TSU Stock Price
 Tim Participacoes S.a. Stock Chart
TSU Stock Chart
 Tim Participacoes S.a. Stock News
TSU Stock News
 Tim Participacoes S.a. Company Information
TSU Company Information
 Tim Participacoes S.a. Stock Trades
TSU Stock Trades

Eletropaulo To Get BRL450 Million Profit Boost From Telecom Sale

SAO PAULO -(Dow Jones)- Eletropaulo (ELPL4.BR) said Friday that the sale of telecommunications units in Brazil owned by its parent company should boost net income by 450 million Brazilian reais ($289 million). The sale of two telecom companies owned by Cia Brasiliana de Energia, controlled by Eletropaulo parent AES Corp. (AES), should result in a payment to Eletropaulo this year should the deal be completed by the fourth quarter. The total boost in net income includes BRL308 million that the company received last year as part of a deal between Eletropaulo and Brasiliana to sell the telecom companies, Eletropaulo said in a Brazilian regulatory filing. Brasiliana sold Eletropaulo Telecomunicacoes Ltda. and AES Communications Rio de Janeiro SA to Tim Participacoes (TCSL4.BR), the Brazilian mobile-phone unit of Telecom Italia SpA (TI, TIA, TIT.MI). The companies will be sold for BRL1.6 billion, Eletropaulo said. Eletropaulo shares surged in recent days on speculation national development bank BNDES would sell its 49.9% stake in Brasiliana. BNDES took a stake in Brasiliana as a conversion of half of a $1.2-billion loan taken out by AES to buy Eletropaulo in 1998, which was never repaid. AES agreed to exchange $600 million into shares of Brasiliana, in which AES currently holds a stake of 50% plus one share, and to repay the other half. AES has the right of first refusal to buy the BNDES shares, and Britaldo Soares, president of AES Brazil, has said the company is interested in buying the stake, according to reports. -By Paulo Winterstein, Dow Jones Newswires; 55-11-3544-7073;

Stock News for Tim Participacoes (TSU)
11/09/201516:37:25Report of Foreign Issuer (6-k)
11/04/201508:30:00Niel Says Acting Alone in Telecom Italia Stake Buy
11/04/201506:05:18Report of Foreign Issuer (6-k)
11/04/201506:05:17Report of Foreign Issuer (6-k)
11/04/201506:05:16Report of Foreign Issuer (6-k)
11/04/201506:05:15Report of Foreign Issuer (6-k)
11/04/201505:11:00Brazil's TIM Participacoes 3rd-Quarter Profit Drops as Revenue...
10/30/201509:10:00Iliad Founder Neil Has 15% Stake in Telecom Italia
10/27/201520:10:29Telecom Italia, Oi: Brazil needs looser rules before mergers
10/27/201517:07:04Report of Foreign Issuer (6-k)
10/27/201514:47:00Brazil Says Any Oi-TIM Deal Would Be Studied Closely -- 2nd Update
10/27/201509:37:00Brazil Communications Minister Says Any Oi-TIM Deal Would Be...
10/26/201518:45:00ADRs End Lower; Climbs
10/26/201518:30:45Bloomberg: Telecom Italia leaning against $4B offer for TIM tie-up
10/26/201512:16:00LetterOne Seeks to Invest $4 Billion in Brazil's Telecom Oi...
10/26/201511:44:00LetterOne Seeks to Invest $4 Billion in Brazil's Telecom Oi...
10/26/201508:55:23Report of Foreign Issuer (6-k)
10/26/201508:20:00LetterOne Seeks To Invest $4 Billion in Brazil's Telecom Oi
10/26/201507:30:00LetterOne Seeks To Invest $4 Billion in Brazil's Telecom Oi
10/09/201506:03:08Report of Foreign Issuer (6-k)

Tim Participacoes and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations