MasTec (NYSE:MTZ) says consortium wins Telebras unit
Reuters, Thursday, July 30, 1998 at 22:27
MIAMI, July 30 (Reuters) - MasTec Inc. said that the
consortium that bought the Telebras (NYSE:TBR) unit servicing 86
million people in Brazil has won the newly created fixed-line
Telebras unit known as Tele Norte Leste Participacoes for a bid
price of 3.4 billion reais, or $2.8 billion.
MasTec said in a statement that Inepar S/A/ Industria e
Construcoes is its 49 percent partner in the company's
Brazilian telecommunications construction subsidiary and is a
significant participant in the consortium.,
Tele Norte Leste will service the states of Rio de Janeiro,
Minas Gerais, Espiritu Santo, Bahia and several other states in
north and northeast Brazil. The region has about 6.5 million
lines installed.
MasTec and Inepar formed MasTec-Inepar S/A Sistemas de
Telecomunicacoes last year to take advantage of anticipated
increased demand for telecommunications infrastructure
construction in the Brazilian market. MasTec owns 51 percent of
MasTec-Inepar and Inepar owns the remaining 49 percent.
A consortium led by Telefonica S.A. won the fixed-line unit
known as Telesp, which services 34 million people in the state
of Sao Paulo, and cellular units in Rio de Janeiro and Espiritu
Santo. Telefonica is MasTec's largest customer worldwide.
MasTec is a telecommunications and related infrastructure
service provider.
Copyright 1998, Reuters News Service |
