deny the browse of the history component for a specific team area

Angelo,

  I don't think that this is possible in the way that you are thinking.

  If the second team does not use an RTC client, you can just create a new workspace in some shared area, and give them access to that.  That would essentially give them a particular baseline of code (whichever baseline that the stream associated with the workspace is based on currently), with no ability to see work items or history.