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TIM Participações (NYSE:TSU) reports that it has received what the firm called “the very extreme measure” adopted by Anatel, which blocked the sale of new lines in 19 states “in a disproportional way”. In a statement, TIM said that, “The decision was apparently based on data and indicators different from those usually established by Anatel it self to track the performance of the network. The presented measure took into account, for example, the percentage difference in each state between the worst operator and the others’ average in complaints to the Anatel’s call center, a measure until now unknown and does not necessarily reflect the quality of the network…TIM reaffirms that it is developing a set of infrastructure projects to continue to provide innovative services to customers, supporting the growth and capturing the opportunities that market offers…The Company is also working on upgrading equipment, doubling the speed of the infrastructure of mobile Internet access to 42 Mbps, or HSPA+, an intermediate step between 3G and 4G.” Shares closed down 9.57 percent on the day at $21.46, but have been traded in a 52-week range of $22.05 to $51.32.
Tal Education Group (NYSE:XRS), a leading K-12 after-school tutoring services provider in China, has issued following statement: “In view of the unusual market activity in TAL’s ADS on July 19, the New York Stock Exchange has contacted TAL in accordance with its usual practice; TAL stated that its policy is not to comment on unusual market activity or speculative matters.” Shares closed down 14.19 percent on the day at $7.56, having traded in a 52-week range of $8.41 to $13.75.
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