Brazil's TIM to expand 4G network, study sale of towers
BRASILIA, April 14
BRASILIA, April 14 (Reuters) - The board of Brazilian wireless carrier TIM Participações SA has recommended that the company bid in an upcoming auction of the 700 MHz frequency for 4G wireless communications in Brazil, the company said on Monday.
The 700 MHz frequency, which Brazil's telecommunications regulator Anatel plans to auction in August, would be a good prospect for the reinforcing TIM's strategy for expanding its broadband wireless operations, it said in a securities filing.
"The 700 MHz frequency is a very important resource to strengthen 4G networks in Brazil and elsewhere in the world," TIM Chief Executive Officer Rodrigo Abreu said in a statement.
TIM, which is a unit of Telecom Italia, also said the board has authorized the study of offers for the sale of its cellphone towers, to "try to create more value for the stock and at the same time improve the company's efficiency." (Reporting by Anthony Boadle; Editing by Lisa Shumaker)