Embratel stock again rallied strongly on the São Paulo Stock Exchange (Bovespa) and in New York on Wednesday, June 4, this time boosted by two developments.
One was President Luiz Inácio Lula da Silva?s support for an item of the proposed new telecommunications policy that would benefit Embratel in local telephony, especially with regard to regulation of unbundling and interconnect rates.
The other was a fresh outbreak of rumors that Embratel, a subsidiary of MCI, is about to be sold. A change of ownership for the incumbents privatized in 1998 will at last become legal in July under the five-year rule.
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