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July 30, 1998 | CHRIS KRAUL and PAULA GOBBI, SPECIAL TO THE TIMES
In a strong vote of confidence in Brazil that nonetheless sent thousands of protesters pouring into the streets, telephone companies from around the world anted up $19 billion on Wednesday to buy control of the nation's antiquated phone system. Police used tear gas to disperse demonstrators who marched on Rio de Janeiro's stock exchange to protest the sale to foreigners and the massive job losses they fear will result from the largest auction ever held of Latin American state-owned assets.
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BUSINESS
June 18, 2005 | From Bloomberg News
Viacao Aerea Rio-Grandense, Latin America's biggest airline and the carrier responsible for most of the international flights from Brazil, filed for protection Friday from creditors in Brazil and the U.S. as it seeks to restructure $2.8 billion of debt. The airline, known as Varig, will operate normally for the next 180 days, executives said. The company, a member of the Star Alliance group of airlines, also said the filing won't affect its frequent flier program.
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BUSINESS
July 17, 1998 | Bloomberg News and Reuters
Enron Corp. agreed to pay $1.27 billion for a controlling stake in one of Brazil's fastest-growing electricity distributors, Elektro, part of the Houston-based company's aggressive expansion into Latin America. Enron paid nearly double the minimum price for a 47% stake in Elektro at a privatization auction, surprising power-sector analysts who had forecast an average premium of 20%. Elektro, Brazil's sixth-largest electricity distributor, serves 1.
BUSINESS
July 30, 1998 | CHRIS KRAUL and PAULA GOBBI, SPECIAL TO THE TIMES
In a strong vote of confidence in Brazil that nonetheless sent thousands of protesters pouring into the streets, telephone companies from around the world anted up $19 billion on Wednesday to buy control of the nation's antiquated phone system. Police used tear gas to disperse demonstrators who marched on Rio de Janeiro's stock exchange to protest the sale to foreigners and the massive job losses they fear will result from the largest auction ever held of Latin American state-owned assets.
BUSINESS
July 30, 1998 | From Washington Post
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.
BUSINESS
June 18, 2005 | From Bloomberg News
Viacao Aerea Rio-Grandense, Latin America's biggest airline and the carrier responsible for most of the international flights from Brazil, filed for protection Friday from creditors in Brazil and the U.S. as it seeks to restructure $2.8 billion of debt. The airline, known as Varig, will operate normally for the next 180 days, executives said. The company, a member of the Star Alliance group of airlines, also said the filing won't affect its frequent flier program.
BUSINESS
July 30, 1998 | From Washington Post
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.
BUSINESS
July 17, 1998 | Bloomberg News and Reuters
Enron Corp. agreed to pay $1.27 billion for a controlling stake in one of Brazil's fastest-growing electricity distributors, Elektro, part of the Houston-based company's aggressive expansion into Latin America. Enron paid nearly double the minimum price for a 47% stake in Elektro at a privatization auction, surprising power-sector analysts who had forecast an average premium of 20%. Elektro, Brazil's sixth-largest electricity distributor, serves 1.
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