Telecom Americas buys BSE, expanding subscriber base to 6 million

America Moviles, which controls Telecom Americas, confirmed Wednesday, March 5, that it has concluded an agreement with BellSouth and Safra for the purchase of a 95% stake in BCP Nordeste (BSE) for 180 million US Dollars. The deal itself will be closed by the end of the second quarter, it said. BellSouth and Safra have notified CVM, Brazil?s securities and exchange watchdog, that conclusion of the agreement depends on the fulfillment of certain contractual conditions, which they haven?t disclosed. The deal must also be approved by Anatel and CADE, the competition tribunal.
Telecom Americas controls ATL, Americel, Claro Digital (Telet), and Tess. In the states of Ceará, Rio Grande do Norte, Paraíba, Pernambuco, Alagoas and Piauí, where Telecom Americas will operate via BSE, it will compete with TIM Nordeste and Oi (using GSM). Telecom Americas Brazil had 5.2 million subscribers and BSE about 1m at the end of 2002. In the first nine months of 2002, BSE reported a net loss of around 1bn Brazilian Reals and negative net worth of about 1.5bn BRL.

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