Brazil's TIM sticking to investment plan despite currency drop

martes 15 de septiembre de 2015 10:59 GYT
 

NEW YORK, Sept 15 (Reuters) - Brazilian telecom company TIM Participações SA will stick to its investment plan, denominated in reais, despite a more than 30 percent drop in Brazil's currency this year, Chief Executive Rodrigo Abreu told analysts on Monday.

TIM has worked to renegotiate better terms on imported equipment, but the company will trim the extent of investments before it exceeds its target of roughly 14 billion reais ($3.6 billion) in capital spending from 2015 to 2017, Abreu said.

($1 = 3.86 Brazilian reais) (Reporting by Malathi Nayak; Writing by Brad Haynes; Editing by Chizu Nomiyama)