Brazil's Embratel wins back 150 mln reais in fees
Reuters, 07/7/2000 16:29
SAO PAULO, July 7 (Reuters) - Brazilian long-distance operator Embratel (SAO:EBTP4) said on Friday that a ruling permitting it to collect backed-up fees from telephone operators could earn it at least 150 million reais ($83.4 million).
Embratel was awarded the right to claim revenue for national long-distance phone calls made from fixed-lines to cellular phones during a 12 month period starting July 2, 1998. The sum is estimated at 150 million reais, before taking into account currency adjustments, Embratel's press office said.
Brazil's telecoms regulatory agency, Anatel, ruled late Thursday that Embratel can collect from fixed-line companies like Telemar (SAO:TNLP4), Brasil Telecom (SAO:TCSP4) and Telesp (SAO:TLPP4) the profits they made on calls to cell phones during the specified period.
Those companies paid Embratel for the right to use its network during that year but Embratel's concession at the time also gave it the right to collect the revenue on the calls, the company said. After July 2, 1999, the revenue from fixed calls to cellular phones went to the long-distance operator selected by the caller.
Shares in Embratel gained 2.2 percent to 42.50 reais in late trading.
The fees could be worth as much as 220 million reais, a company official told O Valor newspaper. katherine.baldwin@reuters.com))
Copyright 2000, Reuters News Service |
