Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.373

+0.5%

Feb 6 9:30 AM EST

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To: Steve Fancy who wrote (8943)	10/9/1998 10:19:00 AM
From: Steve Fancy	of 22640

Spain's Telefonica May Expand Brazil Presence - Newspaper Dow Jones Newswires MADRID -- Telecoms giant Telefonica SA (TEF) may be invited to bid for one of the 12 Brazilian companies which have emerged from the breakup of Telebras, according to Spanish business newspaper Expansion, Friday. Although a Telefonica official wouldn't comment on the article, he did confirm that the company's Chairman Juan Villalonga and Chief Executive Juan Perea met with Brazil's Minister of Telecommunications, Luis Carlos Mendonca, late Thursday in Madrid. In late July, Brazil's government broke up its telecommunications holding company Telecomunicacoes Brasileiras SA into 12 units, to create competition and attract a range of bidders, each with a different business focus. The 12 units consist of eight cellular-phone carriers, three wireline companies and a long-distance and international carrier named Embratel. According to Expansion, Telefonica could bid for a fixed-telephone line in northern and eastern areas of Brazil.

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