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Monday, December 9, 2013

Brazil regulator has not ruled out TIM breakup -source, (NYSE: TEF)

Brazil's antitrust regulator has not ruled out the possible division of wireless company TIM Participa��es SA into units to be bought up by local rivals, a government source familiar with the agency's reasoning told Reuters on Monday. Last week antitrust watchdog Cade issued a decision requiring Spain's Telefonica SA to exit its indirect stake in TIM or find a new partner for its own local wireless unit, known as Vivo.

Telefonica SA is a Spain-based company active in the telecommunications and digital services sectors. Shares of TEF fell by 0.03% or $-0.005/share to $15.76. In the past year, the shares have traded as low as $12.31 and as high as $18.05. On average, 1261170 shares of TEF exchange hands on a given day and today's volume is recorded at 735925.