• April 2008
    M T W T F S S
        May »
     123456
    78910111213
    14151617181920
    21222324252627
    282930  
  • Pages

  • Marginalia

  • Accumulations

“Anatel Bars Delisting of Embratel”

//i113.photobucket.com/albums/n216/cbrayton/Stuff/embratel.gif?t=1207920793” contém erros e não pode ser exibida.

A material event filed with the securities regulator today by Embratel, controlled by Carlos Slim’s Telmex since the late MCI sold its controlling stake in the holding company to the Mexicans in 2004:

Embratel Participações S.A. (“Companhia”), em cumprimento ao disposto na Instrução nº 358/02 da Comissão de Valores Mobiliários, informa ao público e aos seus acionistas que, na presente data, a Companhia foi formalmente informada da decisão final do Conselho Diretor da Agência Nacional de Telecomunicações – ANATEL, manifestada em reunião realizada em 4 de março de 2008, no sentido de que a EMBRAPAR deve continuar como companhia aberta, não anuindo ao cancelamento do registro de companhia aberta da EMBRAPAR junto à Comissão de Valores Mobiliários – CVM, solicitado por Teléfonos de México, S.A.B. de C.V., na qualidade de acionista controladora da Companhia (atualmente sucedida pela Telmex Internacional, S.A.B de C.V.), e sua controlada Telmex Solutions Telecomunicações Ltda., na qualidade de ofertante da oferta pública voluntária com procedimento diferenciado para aquisição da totalidade das ações ordinárias e preferenciais de emissão da Companhia, lançada concomitantemente no Brasil e nos Estados Unidos em 3 de outubro de 2006.

Embratel Participações S.A. (“the Company”), in compliance with CVM Instruction 358/02, informs the public and its shareholders that it has today been formally notified (April 10, 2008) of the final decision of ANATEL, taken at its March 4, 2008 meeting, according to which the Company must remain a public company, declining to allow it to cancel the registration of its sahres with the CVM, as requested by Teléfonos de México, S.A.B. de C.V., the Company’s controlling shareholder (since succeeded by Telmex Internacional, S.A.B de C.V.) and its subsidiary Telmex Solutions Telecomunicações Ltda., which had initiated a public tender offer for 100% of the ordinary and preferred shares of the Company, launched simultaneously in the United States and Brazil on October 3, 2006.

Continue reading

Advertisements

“BrOI Is Not a Done Deal Yet”

//i113.photobucket.com/albums/n216/cbrayton/Stuff/com199a.gif?t=1207916696” contém erros e não pode ser exibida.
BrOi would have combined gross revenues in the same ballpark as the Spaniards.

Fusão entre Oi e BrT só será permitida, se trouxer benefícios para a sociedade: “Oi-Brasil Telecom merger will only be permitted if it benefits society.”

Administradores magazine (Brazil) registers cautious statements from regulators — who are quoted saying “they are in no hurry” to green-light the rule changes needed to do the deal — on the proposed Tupi “supertelco.”

The rumor mill around the planned merger has been intense, even by Brazilian standards. A number of news organizations cited “anonymous sources close to the negotiations” as confident that the deal would be announced this week.

The deal was not, apparently, announced this week. Anyone keeping a scorecard on the failed prognosticators? Insane acts of failed prognostication is sort of local version of MTV’s Jackass in certain journalistic milieu.

Extra (Globo) reported on Wednesday:

Attorneys representing the controlling shareholders of BrT will not be able to hand in all the documents signed by Oi’s controlling shareholders this week, said a source involved in the negotiations. Though Citi and Dantas have already agreed verbally, Oi had set Thursday as a deadline. With that, the merger deal will have to wait until next week. In January, Oi announced it intended to buy BrT for between R$4.2 billion and R$5.2 billion.

Which, again, makes the story a good candidate for a coverage postmortem exploring the link between anonymous sourcing and failed prognostication. There seems to be a correlation there.

Anonymous sourcing tends to get used in the service of nam myoho renge kyo journalism at times: The anonymous source claims (falsely) that the desired outcome is already a done deal in order to increase the pressure on other parties whose cooperation is needed to get it done.

It is being reported that Citi and Dantas are negotiating a settlement to Citi’s lawsuit against the MIT-educated Bahian venture capitalist — with a deadline set for today. See also

(I tried to confirm that report by looking at the PACER filings from the district court in New York, but you know what? My bank has sent me a new debit card whose number has fewer digits than before, and the PACER form no longer recognizes that number as a valid Mastercard number. Weird. Frustrating. Why do I have to pay for public-domain information from the government, again?)

I heard a telecom analyst from one of the major investment banks on Tupi Bloomberg the other morning warning that you should not bet the farm on this deal unless you really understand what is going on. Which seemed like good advice. I certainly have no idea what is going on. Billowing smoke and shrieking noise. No fire, or signal, so far.

Warnings from ANATEL:

De acordo com o presidente da Anatel (Agência Nacional de Telecomunicações), Ronaldo Sardenberg, a fusão entre as empresas Oi (antiga Telemar) e Brasil Telecom só será possível se trouxer benefícios para a sociedade.

According to Sardenberg, the president of the Brazilian national telecommunications agency, the merger between Oi (ex-Telemar) and Brasil Telecom will only be possible if it benefits society.

Continue reading

Sampa: Boom Boom, Out Go The Lights (Reloaded)

//i113.photobucket.com/albums/n216/cbrayton/Stuff/boomboom2.png?t=1207904890” contém erros e não pode ser exibida.
“318,000 without power”

Outro incêndio atinge subestação de energia em Guarulhos: Another fire hits electrical substation in Guarulhos, greater São Paulo. The city desk of the Estado de S. Paulo reports.

A previous incident on March 4 left 690,000 homes without power, “representing 12% of Eletropaulo customers, or 2.4 million persons, and causing record traffic jams.” Another incident on March 17 affected the upscale Hígienopolis neighborhood; power lines were downed by fallen tree limbs caused by torrential rains (as águas de março fechando o verão). Accompanied by loud explosions.

For a first-person perspective on dubious electrical infrastructure, see also

SÃO PAULO – Um incêndio atingiu novamente, no final da noite desta quinta-feira, 10, a estação de distribuição da Bandeirante Energia, em Guarulhos, na Grande São Paulo. Três equipes do Corpo de Bombeiros trabalharam entre 21h15 e 23h30. Na quarta-feira, no mesmo local, um transformador pegou fogo e deixou 201 mil pessoas sem luz.

The distribution station of Bandeirante Energy in Guarulhos, São Paulo greater metropolitan area, was hit by another fire late Thursday night. Three units of the fire brigade worked from 9:15 p.m. to 11:30 p.m. On Wednesday, a transformer caught fire and left 201,000 persons without electricity.

Continue reading