Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.479

+4.1%

Jan 16 3:59 PM EST

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To: Steve Fancy who wrote (21045)	6/16/2000 2:55:00 PM
From: Steve Fancy	Read Replies (1) of 22640

Sale Of Telefonica Stake In Brazil CRT Delayed Until Monday Dow Jones Online News, 06/16/2000 14:17 SAO PAULO -(Dow Jones)- The sale of a 32% stake in Companhia Riograndense de Comunicacoes SA (E.CRT), which was expected to close Friday, won't be completed before Monday afternoon, a spokeswoman for buyer Tele Centro Sul Participacoes SA (TCS) said Friday. The price of the shares, owned by Spain's Telefonica SA, (TEF) is still being negotiated, the Tele Centro Sul spokeswoman said. Tele Centro Sul delayed a shareholder meeting originally planned for Friday until Monday at 2:00 p.m. EDT (1900 GMT), just a few hours before the 7:00 p.m. EDT (2300 GMT) deadline set by regulator Anatel for completion of the deal. CRT serves the southern state of Rio Grande Do Sul, which is contiguous to Tele Centro Sul's concession area. -By Margarita Palatnik, Dow Jones Newswires; (5511) 813-1988; mpalatnik@aol.com (This story was originally published by Dow Jones Newswires) Copyright (c) 2000 Dow Jones & Company, Inc. All Rights Reserved

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