Brasil Telecom

Source: Wikipedia, the free encyclopedia.
Brasil Telecom Participações S.A.
Oi
SubsidiariesInternet Group
Websitewww.brasiltelecom.com.br

Brasil Telecom S.A. (BrT, Portuguese pronunciation:

Tocantins, Mato Grosso, Mato Grosso do Sul, Paraná, Santa Catarina and Rio Grande do Sul, as well as the Distrito Federal. Since 9 January 2009, the company is a subsidiary of Oi
.

History

The Brazilian investment bank

Telecom Italia, paid 2.07 billion reais in June 1998 to buy Tele Centro Sul from the Brazilian government as part of the privatization process of Telebrás. In 2001, the company purchased a small stake in the iBest Co. website and launched a portal and free internet access service; at the time, the Marcos Wettreich was the main shareholder in iBest.[1] After some legal wrangling, Citigroup
and the Brazilian pension funds took control of the company, removing Opportunity from the management of their respective funds and took control of the company in 2005. BrT started up a wireless service in 2004.

Brasil Telecom's stock was traded on

BM&F Bovespa, where it is part of the Ibovespa index, as well as on the New York Stock Exchange
.

In 2008, it was announced that Brasil Telecom would be acquired by Oi.[2] That transaction required changes in legislation, since legislation at the time prohibited a fixed telephone company from purchasing another fixed telephone company in a different license area. That legislation has since changed, and Oi completed its purchase of BrT on January 9, 2009.

Legal issues

Brasil Telecom, the country's third largest fixed-line operator, and Opportunity, which controlled Brasil Telecom, hired

Telecom Italia
were struggling for the control of Brasil Telecom. Brasil Telecom and
Telecom Italia
have been locked in court struggles since 2000. Kroll was accused of spying on Brazilian government officials. Additionally, Opportunity also became involved in legal disputes with the investors in its managed funds, namely some Brazilian pension funds and
Telemig Celular, Amazonia Celular
, Santos Brasil, and Opportrans/Rio de Janeiro's subway operator).

See also
  • Atlantica-1

References

  1. ^ "Brasil Telecom Buys Stake in iBest". Brazil Telecom Newsletter. 5 (12). Boston: Information Gatekeepers: 10. December 2001 – via Google Books.
  2. ^ Brasil Telecom[permanent dead link]

External links

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