Latin America Private Sale: Telebras
Article Abstract:
The July 29 privatisation sale of Brazil's telecommunications company Telebras won Brazil R$22.057bn (US$19.01bn) and became the largest privatisation ever in Latin America and 3rd largest in the world. According to Morgan Stanley Dean Witter, the operation was a success and all 12 units of Telebras were sold. Long distance operator Embratel, one of the units, was acquired by MCI for US$2.284bn; the Telesp unit was sold to a consortium including Spanish, Brazilian and Portuguese telecom companies for US$4.984bn; the Tele Centro-Sul was bought by a group run by Telecom Italia for $US 1.784bn; the Tele Norte-Leste unit was bought by a group including construction companies Andrade and Gutierrez for US$2.96bn; and the 8 cellular companies were sold for US$6.998bn.
Comment:
Brazil: Telebras is privatized, Brazil gets R$22.057bn (US$19.01bn) for all 12 units, making it biggest Latin Amer privatisation
Publication Name: Privatisation International
Subject: Business, international
ISSN: 0961-4206
Year: 1999
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Telebras: the biggest show on earth
Article Abstract:
The privatisation of Telecomunicaoes Brasileiras SA (Telebras) is being proposed due to the increasing liberalisation of the worldwide telecommunications industry. The Brazilian government has plans to open all areas of the economy to private enterprise. Telebras has a market value of about $35 billion. It has been predicted the state may receive between $40 billion-$70 billon from the sale. The sale should be finalised by the end of Aug 1998. It has taken seven years to gain sufficient support for the privatisation to go ahead.
Publication Name: Privatisation International
Subject: Business, international
ISSN: 0961-4206
Year: 1998
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Advisers compete for Telebras mandates
Article Abstract:
Brazil's telecoms utility Telebras is to be privatized by the Brazilian National Development Bank (BNDB) in Feb 1998. The sale of the whole Telebras group will be the largest in Brazil during 1998, and is expected to raise $26.8 billion. Portugal Telecom is bidding $5.3 billion for 51% worth of shares in Telesp, which will remain separate from Telebras. The sales of ferry-company Conerj is expected to raise $23.6 million during Jan 1998.
Publication Name: Privatisation International
Subject: Business, international
ISSN: 0961-4206
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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