Brazil sells most of state phone utility

Article Abstract:

State-owned Telecomunicacoes Brasileiras SA, also called Telebras, has sold 12 pieces of its telephone system for about $19 billion in an auction that was dominated by Spain's Telefonica, Portugal Telecom and the MCI Communications Corp., who together paid a total of $11.6 billion. Telefonica paid $5 billion for the license of the Sao Paulo region's telephone company and $1.2 billion for the wireless carrier in the Rio de Janeiro and Espirito Santo regions. The sale brought 64% more than advertised minimum bids.

Comment:

Has sold 12 pieces of telephone system for about $19 bil in auction dominated by Spain's Telefonica, Portugal Telecom, MCI

Asset sales & divestitures, Company Planning/Goals, Brazil, Article, Telecomunicacoes da Bahia S.A.

---

AT&T profits ease but still beat forecasts

Article Abstract:

AT&T Corp., the no. 1 long distance telephone service provider in the U.S., saw profits decline - yet beat analysts' forecasts - in the third quarter of 1999. The telecommunications giant's rise in earnings in the wireless telephone service and business communications sectors were offset by declines in long distance phone revenue due to increased competition and lower market share. An additional impact on profit resulted from the recent acquisition of Tele-Communications Inc. cable TV service.

United States, AT&T Corp.

---

Similar abstracts:

• Abstracts: Cable concern plans to offer phone service in Nynex home. Free long-distance phone calls!
• Abstracts: The camera never lies, but the software does. Some gadgets that are still not ready for prime time
• Abstracts: Monitors get skinnier, and a phone for your tie. Alliance formed around Sun's Java network
• Abstracts: AT&T income down, with more of that foreseen. After nine months, AT&T president quits under pressure
• Abstracts: AT&T takes lead on a plan to cut long-distance rates. Atop F.C.C., still trying to be nice. An active chief is leaving the F.C.C

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.