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January 9, 2008 |
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BRASIL TELECOM: Shares Surge 5.7% Over a Likely Share Sale Talks Brasil Telecom SA's shares rose 5.7% to BRL28.35 as the market speculates a possible sale of shares by controlling groups Citigroup Inc. and some pension funds, Alexander Ragir and Romina Nicaretta at Bloomberg News reports. Meanwhile, IstoE magazine reported online that Tele Norte's holding company, Telemar Participacoes SA, has made an offer to purchase 35% of Brasil Telecom stake, Bloomberg relates. Telemar common shares rose to BRL5.226, or 9 percent, BRL63.75. Brasil Telecom common shares gained 6.8 percent to BRL53.10. Headquartered in Brasilia, Brazil, Brasil Telecom Participacoes SA -- http://www.brasiltelecom.com.br -- is a holding company that conducts substantially all of its operations through its wholly owned subsidiary, Brasil Telecom SA. The fixed-line telecommunications services offered to the company's customers include local services, including all calls that originate and terminate within a single local area in the region, as well as installation, monthly subscription, measured services, public telephones and supplemental local services; intra-regional long- distance services, which include intrastate and interstate calls; interregional and international long-distance services; network services, including interconnection and leasing; data transmission services; wireless services, and other services. * * * To date, Brasil Telecom carries Moody's Investors Service's Ba1 senior unsecured and credit default swap ratings. |
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