Embratel Par absorbs Telmex's businesses in Brazil.(Telmex do Brazil, Embratel Participacoes S.A.)(Brief Article)

Latin America Telecom, November, 2005

Embratel Par (Embrapar) decided to complete the acquisition of Telmex do Brazil (TDB) and cable TV operator Net, both entities controlled by Mexican-based Telmex.

The transaction will be made via Atlantis Holding and Latam do Brasil Participacoes. The Embrapar deal is for 100 percent of its shares, and the Net deal is for 37.1 percent. Embrapar's net worth will increase by almost $440 million. It has the blessing of telecom regulator Anatel and needs no additional approvals.