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January 22, 2008 |
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TELE NORTE: Anatel Supports Way TV Acquisition Oi, fka Tele Norte Leste Participacoes, has been granted approval by Brazilian telecoms regulator Anatel's board for the acquisition of cable TV provider Way TV, Business News Americas reports, citing tech magazine Computerworld. According to the board, the deal has no detection of any unfair market concentration. BNamericas relates that Oi will pay US$73 million and offer a 65% premium for Way TV. Oi was the only bidder in a July 2006 auction in which network services provider Infovias and Brazilian power company Cemig, Way TV's current controller, offered the auction to the TV operator, the same paper states. Way TV operates in four cities in Minas Gerais state. About Brasil Telecom 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. About Telemar Norte Headquartered in Rio de Janeiro, Brazil, Tele Norte Leste Participacoes SA -- http://www.telemar.com.br -- is a provider of fixed-line telecommunications services in South America. The company markets its services under its Telemar brand name. Tele Norte's subsidiaries include Telemar Norte Leste SA; TNL PCS SA; Telemar Internet Ltda.; and Companhia AIX Participacoes SA. As reported on April 27, 2007, Standard & Poor's placed on CreditWatch with negative implications the 'BB+' corporate credit rating on Tele Norte Leste Participacoes S.A. The creditwatch resulted from TmarPart's decision to buy out its holding company's preferred shares. |
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