Brazil to choose Telebras advisers Monday - report
Reuters, Friday, January 02, 1998 at 17:34
SAO PAULO, Jan 2 (Reuters) - Brazil's Communications Ministry is expected to announce the advisers on the privatization of the country's telecom holding company Telebras (SAO:TEL_.P) on Monday, a local news agency reported Friday.
The federally-owned holding's fixed telephone services will also be formally split from its cellular services on Monday, Invest News said.
Officials at the ministry were not immediately available to comment on the report.
Brazil last month authorized splitting cellular A Band services from Telebras' subsidiaries in preparation for its privatization by mid-1998.
The government also published an edict then allowing the creation of 26 separate A Band mobile phone companies from cellular services spun off from each of its 26 local operating units.
The government was also expected to select advisors on the company's privatization scheme.
Brazil's National Development Bank (BNDES) has said it received proposals from consultants interested in providing advice on the sale of Telebras.
Only one consortium, led by Arthur D. Little Ltda, presented a proposal for the so-called "A" service, which involves an economic and financial evaluation of the company.
Four groups presented bids for the "B" Service, involving an economic and financial evaluation and developing a model for the sale. They were:
-- Consortium Nova Telebras, led by Brazilian investment bank Banco Garantia;
-- Consortium Telebrasil 2000, led by local investment bank Banco Fonte Cindam;
-- Consortium Brasilcom, led by Salomon Brothers;
-- Consortium Telebrasil, led by Metal Data Engenharia e Representacoes Ltda.
Copyright 1998, Reuters News Service
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Is this the news that a news source recently reported wouldn't happen until February?
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