UPDATE 1-Brazil's TIM to invest more than $4.9 bln in 2015-2017

viernes 20 de febrero de 2015 07:46 GYT
 

(Adds plan details, background)

RIO DE JANEIRO Feb 20 (Reuters) - Brazilian telecommunications company TIM Participacoes SA plans to invest more than 14 billion reais ($4.90 billion) from 2015 to 2017, the company said on Friday in a strategic planning statement.

The company also said it expects net sales, or sales minus sales taxes, and earnings before interest, taxes, depreciation and amortization (EBITDA) to increase steadily in the same period.

Mobile internet services will be "the motor" that drives the cellular telephone market, with the Internet providing about 60 percent of sales in the market in 2020, up from 12 percent in 2010, the company said.

The plan was released as the firm, controlled by Telecom Italia SpA, addresses consolidation in the Brazilian mobile phone market. The company in November told management to examine a possible "integration" with rival Brazilian operator Oi SA.

The amount of investment planned for 2015-2017 is similar to the approximately 14.6 billion reais TIM invested between 2012 and 2014.

($1 = 2.8587 Brazilian reais) (Reporting by Jeb Blount; editing by Jason Neely)