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.
Public-Held Company
CNPJ/MF Nº 02.558.115/0001-21
NIRE 33 300 276 963
NOTICE TO THE MARKET
TIM PARTICIPAÇÕES S.A. (“Company”) (BM&FBOVESPA: TIMP3; NYSE: TSU), in response to a formal BM&FBOVESPA inquiry SAE 0365/15, of February 20, 2015, requesting clarifications about the investments plan of R$14 billion for the triennium 2015-2017 (“Industrial Plan”), informs the following:
Concerning to the first item of the Inquiry, as published on the Company's Industrial Plan, filed as a Material Fact in the Brazilian Securities and Exchange Commission – CVM’s system of periodic and eventual information, on February 20, 2015, at 08h55min, we emphasize that the Company will finance the implementation of the investment plan with its own resources, coming from its cash flow. For the year 2014, the Company closed with EBITDA (earnings before interest, taxes, depreciation and amortization) of R$5,538 million. Only for didactic purposes, the investment plan divided by three years would amount to a total of approximately R$4,666 million per year. Additionally, the Company informs that may use the proceeds from the sale of its telecommunications towers, as disclosed in the Material Fact on November 21, 2014.
Concerning to the second item of the inquiry, the Company believes that Mr. Marco Patuano statement was wrongly interpreted by the journalist, once it was said that Net Debt over EBITDA indicator at 2.5 times, refers to the goal of all the Telecom Italia Group, in 2017, not only for the Company. In the case of TIM Participações, we also emphasize that this indicator, at the end of 2014, was at 0.23 times, level similar to that seen in previous years.
The Company expects to have provided all the necessary clarifications.
Rio de Janeiro, February 23, 2015.
TIM Participações S.A.
Rogério Tostes
Investor Relations Officer
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: February 23, 2015 | By: | /s/ Rogério Tostes | |
Name: Rogério Tostes | |||
Title: IRO |
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