Brazilian telecom company Telemar and Brasil Telecom merger is near
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[November 09, 2007]

Brazilian telecom company Telemar and Brasil Telecom merger is near

(Investnews (Brazil) - English Via Thomson Dialog NewsEdge) SO PAULO - A merger between Telemar and Brasil Telecom (BrT) might take place within the next two years, said Telemars executive chairman Luiz Eduardo Falco at a press conference in Rio de Janeiro on Friday. Falco added that political negotiations for the operation are at an advanced stage.



The resulting company would sell R$ 27.2 billion and own 64% of Brazils fixed-wire market.

Both companies are potential acquisition targets for Portugal Telecom in case the latter decides to sell its 50% share in Brazilian mobile carrier Vivo - the other hald belongs to Spanish Telefonica.



In August Brazils Communications Minister Hlio Costa affirmed that President Lula should issue a decree by the end of the year changing telephony concession legislation, which currently forbids companies that operate in different parts of the country from having the same shareholders.

Mobile carrier Oi, which is controlled by Telemar, currently operates in 16 Brazilian states and has 14.3 million foxed-wire clients and 14.9 million mobile clients. Brasil Telecom operates in nine states, has 8.1 million fixed-wire clients and four million mobile clients. 2007 NoticiasFinancieras - InvestNews - All rights reserved

Copyright 2007 NoticiasFinancieras

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