Quantitative analysis on TIM Participacoes. This report consists of a contextual explanation and an in-depth analysis of sales performance, other incomes, costs and expenses, earnings, considerations on net result, company's fundamental ratios, and peer group comparisons in key ratios as well as rankings in the fiscal year 2009. Additionally, it is included an updated profile of the company, its structure and the Brazilian telecommunications regulatory framework as well as the annual stock performance of TIM Participacoes versus the Dow Jones index and the stocks of VIVO and TELEFONICA.