FYI From Raging Bull
Rubes02
Reply To: None
Thursday, 18 May 2000 at 6:39 PM EDT
Post # of 26680
Holy Cow...Americel to merge?
Four Brazilian Celular Phone Cos Close to Merger, Gazeta Says
Sao Paulo, May 18 (Bloomberg) -- Brazil's Telemig Celular Participacoes SA, Tele Norte Celular Participacoes SA, Americel SA and Telet SA are about to merge, creating the country's fifth- largest mobile phone operator, Gazeta Mercantil newspaper reported, citing Jose Monforte, president of Bell Canada's operations in Brazil.
Controlling shareholders in the four companies, which include Canada's Telesystem International Wireless Inc. and Bell Canada, Brazil's Banco Opportunity and pension funds of state-controlled companies, have been holding talks about a possible merger for the past year, Gazeta said. The merged company would operate in 13 states and the federal district and would have 1.7 million mobile phone subscribers.
Telesystem International's Chief Executive Bruno Ducharme last week said the company will bid for new mobile phone licenses the Brazilian government plans to auction off later this year.
(GM, 05/18/2000, p. C-1 or GZTA for the paper's Web site.)
May/18/2000 9:09 ET
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