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Telecom Italia Rsp

M&A Activity • Apr 20, 2022

4448_rns_2022-04-20_0661a706-c545-46c8-ae79-592b07f20f3f.pdf

M&A Activity

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Press Release

TIM: TIM BRASIL, COMPLETED THE ACQUISITION OF OI GROUP'S MOBILE BUSINESS

Rome, 20 April 2022

TIM announced that its Brazilian subsidiary TIM S.A., together with Telefônica Brasil S.A. (VIVO) and Claro S.A., has completed the acquisition of Oi Group's mobile asset for a total consideration of approximately 7 billion reais.

The closing comes after approval of the transaction by the local authorities (CADE and Anatel).

As a result of the closing of the acquisitions there will be a new infrastructural balance in the Brazilian market, with three major operators ensuring a high level of competition, customer benefits and adequate investment for the development of telecommunications infrastructure and the digitalization of the country.

TIM Press Office +39 06 36882610 https://www.gruppotim.it/media Twitter: @TIMnewsroom

TIM Investor Relations +39 06 36882500 https://www.gruppotim.it/investor\_relations