Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.383

-2.9%

9:33 AM EST

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To: Steve Fancy who wrote (21234)	8/5/2000 7:22:35 AM
From: wl9839	Read Replies (1) of 22640

Worldcom Eyes Tender Offer To Up Stake In Embratel-Estado Dow Jones Newswires SAO PAULO -- Worldcom Inc. (WCOM) is weighing the possibility of tendering an offer for outstanding shares in its Brazilian unit, Embratel Participacoes SA (EMT), a top official from the U.S.-based telecom giant was quoted as saying Friday. Worldcom Brasil president Luis Fernando Rodrigues told the Estado news agency the company doesn't, however, plan to close out Embratel's capital like other groups in the sector have done. Rather, Worldcom simply seeks to increase its stake in the Brazilian long-distance carrier. Worldcom acquired a controlling stake in Embratel in July 1998 as part of the privatization of former Brazilian holding Telebras. The U.S. company has 20% of Embratel's total capital and 51% of all voting, or ordinary, shares Company officials in Brazil and the U.S. weren't immediately available for comment. Embratel preferred shares jumped 3% to close at BRR41.20 Friday, while ordinary shares gained 3% to BRR32.15. The Estado report was released after the market close Friday -By Stephen Wisnefski, Dow Jones Newswires; (5511) 813-1988; stephen.wisnefski@dowjones.com

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