Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.472

+2.6%

Jan 16 9:30 AM EST

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To: wl9839 who wrote (21060)	6/20/2000 4:43:00 PM
From: wl9839	Read Replies (2) of 22640

Brazil's Govt: Telecom Regulator Takes Control Of CRT Dow Jones Newswires BRASILIA -- Brazilian telecom regulator Anatel Tuesday said it will take control of Companhia Riograndense de Telecomunicacoes SA (E.CRT) after controlling shareholders failed to sell their stake before Monday's deadline. Anatel said that it will act to preserve the competitive model of Brazilian telecomunications, to protect the company's management structure, and to ensure that contractual obligations are maintained. Telefonica was ordered to sell its 32% in CRT as a condition to the purchase of Sao Paulo carrier Telecomunicacoes de Sao Paulo SA (TSP) during its 1998 privatization. Anatel said it will decided within the next 180 days how it will annul Telefonica's concession. However, the agency said it will maintain control of CRT until April 30, 2001, in order to preserve the company's balance sheet.

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