November 12, 2012 / 1:50 PM / in 5 years

STXNEWS LATAM-Brazil's TIM study shows no intentionally dropped calls

TIM Participaçoes SA, Brazil’s second-largest wireless phone company, said on Monday that an independent study confirmed the carrier had not intentionally dropped calls as alleged in an investigation by regulator Anatel.

TIM executives vigorously denied the accusation in August, which contributed, along with a regulatory sales suspension and complaints by a minority shareholder, to a bruising third quarter for the wireless operator’s image. TIM’s stock rose 1.7 percent in Monday trading to 7.83 reais per share.

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