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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting

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To: foundation who wrote (29090)	11/19/2002 8:56:17 AM
From: foundation	Read Replies (1) of 197253

Brazil Vesper Bids Most In Metro SP Mobile Auction Tuesday November 19, 8:15 am ET SAO PAULO -(Dow Jones)- Qualcomm Inc.'s struggling Brazilian telecom upstart Vesper SA Tuesday made the highest of three bids for a wireless network operating license in the metropolitan region of Sao Paulo. Vesper, a fixed-wireless provider that uses Qualcomm technology, bid 138.1 million reals ($1=BRL3.57), or 11.01% above the minimum price in auctions being held by regulator Anatel. Prices have been sharply reduced by the regulator as it struggles to sell spectrum it began offering in January 2001. The lower prices have enouraged bidders to participate in the auctions Tuesday. Besides Vesper, wireline giants Tele Norte Leste Participacoes SA and Brasil Telecom Participacoes SA are making bids, along with Telecom Americas Ltd., the Brazilian wireless unit of Mexico's America Movil SA . In the bid for the metropolitan Sao Paulo spectrum, Telecom Americas bid BRL136.9 milllion and Telemar bid BRL131.9 million. Brasil Telecom didn't bid. An Anatel official said the winner of the bid won't be officially announced for up to one month and that companies can make counteroffers. Spectrum in nine other regions in Brazil will be offered Tuesday. Brazil's wireless sector is currently dominated by a joint venture between Telefonica Moviles SA (TEM) and Portugal Telecom SA (PT), Telecom Americas and Telecom Italia Mobile SpA (I.TIM). But Telemar recently launched a wireless unit in its home region in Brazil's north and east and Brasil Telecom has said it wants to become a full-service telecom provider. Brasil Telecom has said its wireless strategy may include an eventual partntership with Telecom Italia, a key owner of the fixed-line provider. Telecom Italia is the only company here to have a nationwide network, a goal that other companies are pursuing. biz.yahoo.com

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