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: wl9839 who wrote (21055)	6/19/2000 10:58:00 PM
From: wl9839	Read Replies (1) of 22640

Brazil Anatel Says Midnight Final Deadline For CRT Sale Dow Jones Newswires SAO PAULO -- Brazilian communications regulator Anatel late Monday said that midnight will be the final deadline for the 32% stake in Companhia Riograndense de Telecomunicacoes SA (E.CRT) held by the TBS group controlled by Spain's Telefonica SA (TEF). Telefonica was ordered to sell its stake as a condition to acquiring Telecomunicacoes de Sao Paulo SA (TSP) during its privatization in 1998. A pending offer of $730 million from Brasil Telecom SA (TCS) was to be voted on by its shareholders in a meeting set for Monday afternoon, but hadn't been accepted officially by the TBS holding. At 2100 GMT, the previously set deadline, no agreement had been reached. A fight for control of CRT has been waged between the Opportunity group, and Telecom Italia Spa (I.TIL), both shareholders in Brasil Telecom. Telecom Italia has offered a higher price than what Brasil Telecom is willing to pay. -By Margarita Palatnik, Dow Jones Newswires; (5511) 813-1988; mpalatnik@aol.com

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