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.
June 11, 1998 |
Brazil attached a minimum price tag of $11.7 billion to its piece of the national phone company Wednesday, setting the stage for a mega-auction that has the rapt attention of jumpy investors, eager international bidders, frazzled Brazilian consumers and a cash-hungry government. Brazil's expectations from the sale of Telecomunicacoes Brasileiras, or Telebras, have waned steadily since the Asian crisis began last year.
May 29, 1998 |
The breakup of Brazil's equivalent of Ma Bell is imminent, and investors are lining up to bid for the pieces. Is Warren Buffett in that lineup? Opportunity Capital Partners, one of Brazil's biggest money managers, said it has approached the American billionaire about making a joint bid for one or more of the telephone companies to be sold in July as part of the $20-billion breakup of Telecomunicacoes Brasileiras, or Telebras for short.
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.