May 17, 2018 / 12:02 PM / 5 months ago

Brazilian carrier TIM Participações to pay Telecom Italia for brand use

SAO PAULO, May 17 (Reuters) - Brazilian carrier TIM Participações SA said on Thursday it will pay royalties to its controlling Telecom Italia Spa for brand use, according to a securities filing.

Under the terms of the agreement, TIM and its subsidiaries will pay 0.5 percent of net revenues for brand use until December 2020, starting immediately. The filing said Telecom Italia has been questioned and fined by Italian authorities over the free use of its brand by the Brazilian subsidiary. (Reporting by Carolina Mandl Editing by Chizu Nomiyama)

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