Business Services Industry
Brazil: PT to acquire Telesp Celular's stocks.
South American Business Information, March, 2000
Portugal Telecom (PT) aims to buy, through its subsidiary Inbrug, 68bil common stocks of Telesp Celular Participacoes for R$2.04bil. Those stocks represent 47% of the company's common stocks and 16.3% of the capital stock. The offer shall complement Telesp Celular's restructuring started last January. PT already holds 53% of Telesp Celular's common stocks and 9.4% of the preferred stocks, and wants to increase in R$1bil the company's capital through an IPO to take place in two or three months. Telesp Celular provides mobile telecom services in Sao Paulo, Brazil.
Copyright (c) 2000, SABI, all rights reserved.
Source: Jornal do Comercio Page: A-18 Date: March 15, 2000 Country: Brazil Product: Telecommunications Company: Portugal Telecom Event: Stock...
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