Previ waiting for Anatel on Opportunity buyout of TIW

For the time being Previ has no plans to take legal action against the buyout of TIW?s stake in Telpart by Opportunity. Sergio Rosa, president of the pension fund, says he?s waiting for Anatel to decide whether the buyout constitutes a change of ownership, given that Opportunity Fund wasn?t previously a shareholder in Telpart.
TIW?s 49% stake in the equity of Telpart was purchased by Highlake International Business Investments, a subsidiary of Opportunity Fund, for 75 million US Dollars. Telpart is the holding company for Telemig Celular and Amazonia Celular.
It?s worth recalling that Opportunity Fund is under investigation by CVM, the securities and exchange regulator, for allegedly having shareholders resident in Brazil, which was illegal under the rules of Annex IV (case no. 08/2001).

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Opportunity
For Maria Amália Coutrim, a director and partner of Opportunity, the buyout of TIW didn?t constitute a change of ownership. ?Telpart?s controlling shareholder remains Newtel, with 51%. TIW was a minority shareholder,? she argues.
There are other interpretations, however. TIW had voting rights on the board of Telpart. That means control according to Anatel?s definition, as evidenced by the penalty Anatel slapped on Globalvest when it exercised its voting rights without Anatel?s permission.

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