April 26, 2021 |
TIM Brasil, a subsidiary of the Italian telecommunications company TIM, got approval from the Brazilian government to issue BRL5.75 billion ($1.05 billion) in tax-exempt infrastructure debentures to develop a 5G network in the country, according to an announcement in the official gazette on Friday.
TIM will also use the proceeds to "deploy, expand, maintain, recover, adapt and/or modernize" landline and mobile networks in every state and the Federal District. The investments will include install
Italian telco can sell up to $1.05 bln in tax-exempt notes to fund the development of a 5G network in Brazil