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Telecom Italia Denies Plans To Sell Shares In Brazil Unit

SAO PAULO -(Dow Jones)- Italian phone company Telecom Italia SpA (TIT.MI, TI, TIA) denied Monday it is planning to sell some of the shares in its Brazilian mobile phone subsidiary, TIM Participacoes SA (TIM3.BR, TSU). "Telecom Italia doesn't plan to sell any part of its direct or indirect stakes in TIM Brasil and isn't working on any such hypothesis," TIM said in a statement to the Brazilian securities commission, CVM. Brazilian financial newspaper Valor Economico reported in its Monday edition that Telecom Italia was planning to raise up to 3 billion Brazilian reais ($1.8 billion) from the sale of shares in TIM Participacoes. It said Telecom Italia owns 67% of the shares in TIM Participacoes. Shares in the Brazilian unit were the heaviest losers in Monday's morning session, falling 5.8% to BRL8.90. -By Matthew Cowley, Dow Jones Newswires; +55 11 3544 7082; matthew.cowley@dowjones.com

Stock News for Tim Participacoes (TSU)
DateTimeHeadline
09/30/201418:03:23ADR Shares End Lower; America Movil, HSBC Shares Trade Actively
09/30/201412:43:05Brazil's Government Raises Less Than Expected From Auction of...
09/30/201410:51:10TIM Pays Small Premium At Brazil's 4G Auction -- Market Talk
09/23/201417:53:43Brazil's Oi Won't Participate in Country's Airwave Auction
08/28/201418:05:53ADR Shares End Lower; Oi Shares Active
08/27/201417:35:55Rally in European Stocks Halts
08/21/201407:32:00Brazilian Court Gives Green Light to Airwaves Auction Process
08/19/201408:25:49Telecommunication-Tower Operator T4U Plans IPO in Brazil
08/14/201418:50:23ADR Shares End Higher; Gol Shares Trade Actively
08/13/201417:35:08ADR Shares End Mixed; Petroleo Brasileiro Shares Trade Actively
08/01/201407:26:03TIM Participacoes Second-Quarter Profit Down on Debt-Service...
06/18/201417:07:21ADR Shares End Higher
06/16/201405:45:05Mediobanca to Withdraw From Telco
04/15/201407:17:56Brazil Telecom Italia Unit Looks Into Selling Telecommunications...
02/18/201410:53:22Correction to Telecom Italia CEO Article
02/18/201410:12:22Telecom Italia CEO: No Discussion About Sale of TIM Brazil
02/14/201409:06:14Brazil Mobile-Phone Company TIM 4Q Profit Rose; Revenue Growth...
01/27/201409:56:36Brazil Mobile Phone Sales Rise Less In December; Vivo Loses Ground
01/10/201417:10:05ADR Shares End Higher: SAP, Infosys Shares Active
01/03/201408:48:37Brazil Stocks Open Higher, Led by TIM, Following Takeover Report

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