Brazil’s Tim Gains Most in 2 Months on Takeover Bets

Tim Participacoes SA, the Brazilian wireless unit of Italy’s largest phone company, rose the most in two months in Sao Paulo trading amid speculation the company may be a takeover target.

Preferred shares jumped 5.2 percent, the most since May 27, to 5.50 reais at the close of trading at 4 p.m. New York time. The less-traded common, or voting, stock surged 12 percent to 8 reais, for the biggest gain since January 2009.