Microsoft Word - Notice to the Market - Clarifications regarding TIM news 111214 TELEFÔNICA BRASIL S.A.

Publicly‐held Company

CNPJ MF 02.558.157/0001‐62 ‐ NIRE 35.3.001.5881‐4

NOTICE TO THE MARKET

Telefônica Brasil S.A. ("Company") announces to the market, in clarification to the news published yesterday by the Brazilian press regarding a possible offer of the Company for the acquisition of part of TIM, that is unaware of the source of the information published and that has no knowledge of any act, fact or information that may have subsidized such news.
Therefore, we ratify that the information already provided to the market through the Notices to the Market released on September 09, 2014 and October 31, 2014, stating that we are not aware of any agreement, negotiation or offer involving the Company and the other companies mentioned in the referred news.
The Company reiterates its commitment to provide a timely, appropriate information to its shareholders and the market in general whenever there is any material fact.
São Paulo, December 11, 2014.

Alberto Manuel Horcajo Aguirre

Investor Relations Officer Telefônica Brasil S.A. - Investor Relations Tel: +55 11 3430‐3687
Email: ir.br@telefonica.com
Available information: www.telefonica.com.br/ir

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