Brazilian telecom firm TIM SA, on Wednesday, October 27, will submit proposals to participate in the country’s auction of 5G mobile spectrum, its senior managers said on Tuesday.
On an earning conference call, Chief Executive Pietro Labriola also said the company planned to invest 2.2 billion reais (US$390.04 million) more than it had estimated in its original plan for 2022, excluding outlays for the 5G auction.
TIM SA had released a guidance report in February, stating its capital expenditure during the 2021-2023 period was expected to reach 13 billion reais, including 4.4 billion reais this year.
Brazil’s government has stated it expects to raise around 10 billion reais from the auction scheduled for November 4, based on the minimum bids allowed.
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