Business Services Industry
Chile: CTC and Telefonica created new company: Atento Chile.
South American Business Information, October, 1999
CTC Telefonica and its parent company Telefonica created a new company, Atento Chile, to operate in the call center (telephone equipment) market. Telefonica holds 70% in the new company, while the remaining stake is shared by CTC, Publiguias and the Copesa group. Minority holders in Atento Chile brought into the company their assets in Nexcom, which provides direct telephone marketing services. Those assets were valued by Ernst & Young. Atento has some 20 clients, of which 90% being CTC's companies. The new company is to reduce that share to 50% until 2003. Atento will invest some US$51mil between 1999 and 2003, most of that to be supplied by Telefonica. Atento's sales are to grow 20% per year, increasing from Pesos$5.685bil in 1999 to Pesos$52.206bil in...
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