Analysts expect Telefonica to sue Embratel for millions

Equity analysts and other punters are betting against Embratel in the long-distance carrier?s dispute with the LECs, especially Telefonica. Those consulted by TELETIME News don?t expect the injunction won by Embratel preventing Telefonica from offering domestic long-distance service to hold up much longer. The next round takes place on Wednesday, June 12. If Embratel loses, say the analysts, it will almost certainly be sued by Telefonica, which claims to have lost some 70 million reals since the legal battle began on April 29 (at today?s exchange rate that?s close to 27m US dollars). Embratel stock lost 6.82% Wednesday, closing on 4.10 reals in São Paulo.


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