Legal Notes

This website contains information related to TIM S.A. business expectations including operating and financial projections and goals, which constitute our management’s beliefs and premises as well as information currently available for the Companies. Any future consideration is not guarantee of performance. Such information involves risk, uncertainties and premises, since it refers to future events, depending on circumstances that may occur or not.

Investors should understand that general economic conditions as well as industry conditions in addition to operating factors might affect the Company’s future performance, taking it to results that may differ, materially, from what has been stated in this site. The Company is not obliged to update the business prospectus included in this website. We do recommend that interested parties analyze all information on the Companies filed at CVM – Comissão de Valores Mobiliários (the Brazilian SEC), as well as the Companies’ bylaws.

Investment decisions should consider the following risks, which are inherent to the Companies’ businesses:

  • changes in the legislation that regulates mobile telephony services in Brazil, which may determine new competition rules;
  • tax reforms;
  • macroeconomic changes that affect the Companies’ operating segments;
  • changes in consumers’ inhabits;
  • raising of new technologies;
  • increase of competition;
  • the Brazil Risk perception;
  • legal and judicial disputes whose results are uncertain; and
  • other factors not included here, which are out of the Companies’ control.

For a more detailed explanation about risk factors click here.