Mabell Still branching out internationally
AT&T Says To Buy Brazilian Telecoms Company
NEW YORK (Reuters) - AT&T Corp. (NYSE:T - news), the No. 1 U.S.
long-distance carrier, said Tuesday it had signed a deal to buy Brazilian-based telecommunications company Netstream.
AT&T said it will initially invest $300 million in Netstream, which provides high-speed Internet, voice, data and video services to the corporate world. The U.S. company will continue to expand
Netstream's roster of business customers in Brazil, AT&T said in a statement.
The acquisition marks another step in AT&T's recent international expansion, which includes investments in Canada, Japan and Mexico.
Netstream, which began operations in October 1998, has more than 400 customers. The company is currently owned by Promon Tecnologia S.A., a Brazilian engineering, design and construction management firm.
Netstream will continue to be managed by its current local leadership, AT&T said.
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