Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.545

+1.9%

3:59 PM EST

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To: Steve Fancy who wrote (9142)	10/23/1998 6:11:00 PM
From: Steve Fancy	of 22640

Telecom Italia May Have To Sell Part Of Brazilian Phone Co Dow Jones Newswires SAO PAULO -- Telecom Italia SpA (TI) would have to reduce its majority interest in Brazil's Tele Centro Sul Participacoes SA (E.TCS) if it acquires a stake in another fixed-line phone company, a spokesman for Brazil's telecommunications regulatory group Anatel said Friday. Telecom Italia earlier this week confirmed its interest in acquiring the 25% of Tele Norte Leste SA, known as Telemar, which is currently held by Brazil's National Development Bank, or BNDES (P.NDB). The spokesman said that no date has been set for the auction of the government stake. "The shares belong to the BNDES so it's up to them to decide on a date," the spokesman said. "But the sale must conform to telecommunications laws." "In the case of Telecom Italia, they wouldn't be able to have a controlling stake in two fixed-line companies," he added.

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