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Thursday, December 11, 2014

TIM's Abreu says is monitoring Brazil market for consolidation, (NYSE: TI), (NYSE: TI-A)

TIM Participa��es SA, Brazil's second-largest wireless carrier, is carefully monitoring the nation's telecommunications market for possible consolidation moves, and is under no pressure to make a deal, Chief Executive Officer Rodrigo Abreu said on Thursday. The Brazilian market has enough size to accommodate four major companies, Abreu said at an event in S�o Paulo. Only one of Brazil's four main industry players, which he did not mention, is struggling with profitability and other issues, Abreu said"We're proactively monitoring the environment," Abreu said. "We're not waiting to see what happens."In the past year Telecom Italia SpA, TIM's largest shareholder with a 67 percent stake, has taken steps to reduce debt, increase investment and build up an "enviable" cash position, Abreu added.

Shares of TI fell by 0.64% or $-0.0745/share to $11.64. In the past year, the shares have traded as low as $8.97 and as high as $13.54. On average, 162219 shares of TI exchange hands on a given day and today's volume is recorded at 69485.

Shares of TI-A traded higher by 0.11% or $0.01/share to $9.22. In the past year, the shares have traded as low as $7.17 and as high as $10.62. On average, 47730 shares of TI-A exchange hands on a given day and today's volume is recorded at 5011.



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