Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 1.090

+3.8%

Nov 14 9:30 AM EST

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To: Steve Fancy who wrote (1347)	3/30/1998 7:49:00 AM
From: Mayer Tchelebon	Read Replies (1) of 22640

From Brazil Financial Wire (Friday): Telecoms' auctions scheduled to begin next April 10 Denver, 27 - Telecommunications minister, S‚rgio Motta, confirmed yesterday that Brazilian telecoms' privatization auctions should begin next April 10, when the envelops containing international groups' bids will be open. He also informed that concession contracts had already been readied, including that of Embratel, in which case, Motta has given up the idea of establishing the so-called "golden share system" and has opted for including clauses establishing clear-cut rules limiting the powers of its new owner. "I copied the US privatization model utilized by the Federal Communications Commission (FCC), that limits the powers of foreign controllers of US telecoms", Motta explained. "This privatization model allows the government to impede any international group to transfer the core of the country's telecommunications abroad," he concluded. (By Leda Beck)

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