"The board is not studying any break-up of TIM Brasil. I will never grow tired of repeating that it is for us a strategic company," he said on the sidelines of an event.
A government source in Brazil said on Monday the country's antitrust watchdog had not ruled out a possible break-up of TIM Brasil into units to be bought by local rivals.
Speculation about a break-up of TIM Brasil sent Telecom Italia shares up as much as 3.6 percent on Tuesday morning.
(Reporting by Alberto Sisto, writing by Danilo Masoni)