July 25, 2012 / 8:50 AM / 5 years ago

STOCKS NEWS EUROPE-Telecom Italia rebounds on Brazil hopes

Shares in Telecom Italia rise more than 3 percent, rebounding from recent declines after its Brazil unit TIM Brazil and local regulators raise hopes that an end is in sight for the government-imposed sanctions against carriers for soaring customer service complaints.

“Indications that emerged yesterday are positive and open the door to a quick removal of the sales-freeze in several Brazilian states,” a Milan-based trader says.

Brazilian regulator Anatel said after meeting with TIM executives on Tuesday that the company presented a revised investment plan to address government concerns over service quality that was “consistent and well worked out.”

Reuters messaging rm://giancarlo.navach.thomsonreuters.com@reuters.net

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