TIM Celular SA (merged with Tim Participacoes SA)

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TIM Celular SA is a mobile network company controlled by TIM Brasil which in turn is controlled by Telecom Italia. The company originated from the merger of three different companies, namely Portale Rio Norte, TIM Celular Centro Sul and Portale Sao Paulo.TIM Brasil, through a consortium called Unicel, paid US$ 254 million (R$ 520 million) for the license authorization of Portale Rio Norte on March 29th of 2001, which operates in the Areas 8 and 3 on the Band E, accordingly to the geographic divisions established by Anatel. For TIM Celular Centro Sul, which operates in the Areas 5, 6 and 7 on the Band D, TIM Brazil, through a consortium called Blucel, paid US$ 168 million (R$ 343 million) for license authorization on March 12th of 2001. And to obtain license authorization for Portale Sao Paulo, which operates in the Areas 1 and 2 on Band D, TIM Brazil, through a consortium called Starcel, paid US$ 495 million (R$ 1.010 million) on March 12th of 2001. All the three companies adopted GSM technology. On November 30th of 2002, Portale Sao Paulo incorporated Portale Rio Norte and TIM Celular Centro Sul. Portale Sao Paulo had its name changed to TIM Celular SA. In 2004, TIM Celular SA acquired the corporate control of Maxitel, another subsidiary of TIM group. In March 2006, TIM Celular SA was fully acquired by Tim Participacoes SA (project 1473). 2006 Merger: 31 de janeiro de 2006 - O Conselho de Administração da TIM Participações S.A. (“TIM Part”) e TIM Celular S.A. (“TIM Cel”) aprovaram a transação de reestruturação entre TIM Celular e TIM Participações, contemplando a incorporação de ações da TIM Cel na TIM Part. Após a conclusão da transação, a TIM Celular se tornará subsidiária integral da TIM Participações. 16 de março de 2006 - foi aprovada, em Assembléia Geral Extraordinária, a incorporação da totalidade das ações de emissão da TIM Cel ao patrimônio da TIM Participações, nos termos do Protocolo e Justificação de Incorporação de Ações celebrado entre as Companhias em 31 de janeiro de 2006, convertendo-se a TIM Cel em subsidiária integral da TIM Participações. In the year of 2001, Portale Sao Paulo (PSP) invested US$ 640 million (R$ 1.345 million), Portale Rio Norte (PRN) invested US$ 264 million (R$ 587 million) and TIM Celular Centro Sul (TCCS) invested US$ 157 million (R$ 350 million) adding up to US$ 1.061 million (R$ 2.282 million) in investments for the three company together. In 2002, the total invested in the three companies under the new name, TIM Celular SA, was US$ 372.4 million (R$ 1.089 million) of which US$ 62.4 million (R$ 182 million) was invested in TCCS, US$ 186.5 million (R$ 545 million) in PRN and US$ 123.5 million (R$ 361 million) in PSP.