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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: wl9839 who wrote (15293)	5/14/1999 9:04:00 AM
From: wl9839	Read Replies (1) \| Respond to of 22640

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) ------------------------------------------------------------------------ © Copyright 1999, Bloomberg L.P. All Rights Reserved.