Williams to Pay $265 Mln for 19% Stake in Brazilian Cell Phone Company
Sao Paulo, May 14 (Bloomberg) -- Williams Cos. paid $265
million for a 19 percent stake in ATL, a cellular telephone
company serving Rio de Janeiro, Brazil's second largest city,
Gazeta Mercantil newspaper reported. Algar group, which controls
the company, had been negotiating the sale of a stake since July
1998, when it acquired the cellular license in an auction.
Brazilian construction company Queiroz Galvao, which used to be
part of the ATL investment group, has pulled out of the venture,
the paper said.
Tulsa, Oklahoma-based Williams, the largest U.S. natural gas
transporter, has been expanding into the telecommunications
business.
(GM A-1 5/14)
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