Brazilian wireless carrier TIM Participações SA said that it has signed an agreement with local telecoms regulator, Anatel, in which it committed to invest 627 million reais ($154.3 million) over the next three years in its services and infrastructure.
In a securities filing, the company controlled by Telecom Italia SpA said it the agreement demands that TIM expands 4G coverage to 366 cities with less than 30,000 inhabitants each, benefiting 3.4 million people across Brazil.