Parent Company May Sell TIM: Daily

By Chesney Hearst, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – British Bank Barclays and U.S.-based BTIG, a global trading firm, predict that financial woes at Telecom Italia might prompt the sale of Tim Participações SA, or TIM, its part-owned Brazilian subsidiary and the country's second-largest carrier, a move that would shake-up Brazil's telecommunications market and might help Telecom Italia avoid a downgrade in its credit level to "junk" status.

The Italian company needs a €2.2 billion (approximately US$3 billion) reduction in its current debt this year and to raise €7 . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?