Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.517

-9.2%

Dec 29 3:59 PM EST

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To: wl9839 who wrote (15342)	5/17/1999 9:47:00 PM
From: wl9839	Read Replies (1) of 22640

DJ Telefonica SA Launches Tender Offer For Telerj Celular Dow Jones Newswires NEW YORK -- Telefonica Internacional SA plans to launch tender offers for the Brazilian mobile phone operating companies, Telerj Celular and Telest Celular. In a press release Monday, Telefonica Internacional said it will also make offers, with its partner Iberdrola, for two other mobile phone operators, Telebahia Celular and Telergipe Celular. Telefonica Internacional said the transactions will involve a maximum investment of 51.5 billion pesetas, or $330 million, by Telefonica in Brazil. Telefonica Internacional filed official documents with Brazil's stock market regulator, the Comissao de Valores Mobilarios, or CVM. The offer will take place within 15 days of approval by the CVM. Telefonica Internacional, which has telecommunications and pay-TV operations in Latin America, is a unit of Spain's Telefonica SA. (TEF).

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