Telecom Italia CEO says no bids, talks under way for TIM Brasil

BRASILIA Tue Feb 18, 2014 9:01am EST

BRASILIA Feb 18 (Reuters) - No bidding or negotiations are under way for the sale of Brazilian wireless carrier TIM Participações SA, the chief executive officer of its parent company, Telecom Italia, reiterated on Tuesday.

TIM is increasing investments in Brazil to 4 billion reais ($1.7 billion) this year and 11 billion reais by 2016, Telecom Italia Chief Executive Marco Patuano told journalists after meeting with Brazil's communications minister.