July 30, 1998 |
At Brazilian restaurants in Rio de Janeiro and Washington on Wednesday night, MCI Communications Corp. executives celebrated a World Cup-size telecommunications victory: their $2.3-billion winning bid for Embratel, Brazil's only long-distance carrier, which will give MCI total control over long-haul voice and data communications in Latin America's biggest market. The acquisition will also help it better serve U.S.
October 24, 1997 |
Brazil said Thursday that it will split its telephone monopoly Telecomunicacoes Brasileiras into 12 companies, paving the way to open the industry to competition and asset sales the government hopes will raise $30 billion. The government divided the telephone company, known as Telebras, into nine wireless units and three fixed-line operators. Each new company will serve a geographic region. The reorganization is to Brazil what the 1984 breakup of American Telephone & Telegraph Co.
August 9, 1997 |
Brazil on Friday raised $1.74 billion through the sale of mobile telephone licenses, as groups led by Sweden's Telia International and Atlanta-based BellSouth Corp. bid handsomely for stakes in one of the last big emerging telephone markets on the planet. "Brazil is the last of the big markets," said Peter Meurling, Telia's vice president for Latin America. "It's obvious that this is a big market with huge demand." The winning bids--more than double the government-set floor prices--bring to $4.
July 10, 1997 |
A BellSouth Corp.-led group on Wednesday paid a hefty $2.45 billion for the right to provide a second mobile-telephone service in Sao Paulo, Brazil, Latin America's largest urban telephone market. BellSouth will pay more than four times the minimum price set by the government in an auction of the rights to offer cellular service in Sao Paulo. The bid was almost $1 billion more than the next-highest offer by a group led by AT&T Corp.
November 2, 1995 |
Brazil's state-controlled telecommunications market, the largest in Latin America, is on the threshold of dramatic changes that promise billions of dollars in new business opportunities for private companies. One of the many U.S. corporations in the running, big and small, is Sprint. "We are going to make the necessary investment to become a big player in Brazil," said Francisco A. Loureiro, Sprint's general manager here. "This is a key market for Sprint."
September 14, 1995 |
AT&T Forms Brazilian Joint Venture: AT&T Corp. said it is forming a joint venture with two Brazilian partners to pursue wireless telecommunications services. The venture is expected to invest more than $1 billion over the next five years in communications services to customers in Brazil. AT&T said it will hold 40% of the voting equity in the venture company.