02:10 PM EST, 02/12/2025 (MT Newswires) -- TIM (TIMB) on Wednesday said its board approved a new share buyback program to repurchase up to around 67.2 million shares.

The telecommunications company said it was authorized to use up to 1 billion Brazilian reais ($173.6 million) for the share repurchases. TIM also said that the previous buyback program was terminated.

TIMB shares were over 1% higher in recent trading.

Price: 14.95, Change: +0.23, Percent Change: +1.56