Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
TIM PARTICIPAÇÕES S.A.
Publicly-held Company
CNPJ/MF 02,558,115/0001-21
NIRE 33,300,276,963
ANNOUNCEMENT TO THE MARKET
TIM Participações S.A. hereby informs the market that the Company received on the date hereof from its indirect controlling shareholder, Telecom Italia S.p.A., a corporation organized and existing in accordance with Italian laws, a Press Release (Comunicato Stampa) which English version reads as follows:
TELECOM ITALIA: ANATEL PRESENTED WITH PROPOSAL FOR
THE TRANSFER OF 38% OF SOLPART (THE HOLDING WITH
CONTROL OF BRASIL TELECOM) TO A TRUST OF NEW
CONSTITUTION
Once approved by Brazils telecommunications authority (ANATEL), the mobile
and long distance licence overlaps between Tim Brasil and Brasil Telecom
would be resolved
Mandate to JP Morgan for the sale of 38% of
Solpart confirmed
Milan, 9 October 2006 Telecom Italia today presented ANATEL (the Brazilian telecommunications authority) with a request for the approval of the transfer of its 38% stake, held through subsidiary Telecom Italia International, in Solpart (the holding with control of Brasil Telecom) to a Newco named Brasilco S.r.l held by an English law Trust.
With this operation - effective once approved by ANATEL - Telecom Italia will cede ownership of the stake in Solpart (while remaining beneficiary) and the relative governance rights.
Once approved by ANATEL, the overlap of mobile and long distance licences between Tim Brasil and Brasil Telecom will be resolved, for the benefit of all the parties involved, including Brasil Telecom and its shareholders.
The Trust will be managed by Credit Suisse with the aim of selling the conferred stake to a third party, as already announced to the market. Telecom Italia has in fact already mandated JP Morgan with the disposal.
Telecom Italia International will be the sole beneficiary of the Trust and consequently of earnings deriving from the Solpart stake, including the price of its future sale.
Rio de Janeiro, October 9, 2006
Stefano De Angelis
Investor Relations Officer
TIM Participações S.A.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
TIM PARTICIPAÇÕES S.A. | ||
Date: October 09, 2006 | By: | /s/ Stefano De Angelis |
Name: Stefano De Angelis | ||
Title: Chief Financial Officer |