Clipping of news on Brazilian Culture, Law and Citizenship
09/25/2013
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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Government will still await the formal negotiations between the two companies and forward to the analysis of Anatel and CADE
The Communications Minister Paulo Bernardo said on Tuesday ( 24 ) , the Spanish group Telefonica may not have control of the operators Vivo and TIM in Brazil , because it is against the law of the country .
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According to him , the government will still await the formal negotiations between the two companies announced on Tuesday , to be examined by the National Telecommunications Agency ( Anatel ) and the Administrative Council for Economic Defense ( Cade ) .
"Clearly, we have an objective way is that a company can not control the other , they can not do this concentration . That would mean a very large concentration in the hands of a group and would decrease a competitor in the market , which for us is a very negative thing , "said the minister .
According to Bernardo , Telefonica will have a deadline to sell control of one company to another group that can not be established competitor in another country , such as Vivo , Oi , Claro and Nextel . " A group can not control two companies of this size in the country , has prevented the law . In order to formalize this, they will receive a deadline for making the sale of the company , "he said .
In the minister , the fact that it was published on negotiation between companies in Europe comes to buying preferred shares, and no mention of capital controls , but it has a possibility of conversion after a period. "It changes and affects the operation of the companies here in Brazil . We will follow , "he said .
control
Spain's Telefonica , owner of Vivo in Brazil , has reached an agreement on Tuesday to increase its stake in Telecom Italia , owner of TIM in Brazil . A complex financial transaction , Telefónica increased its first participation in Telco , the holding company owner of TIM .
In the agreement , Telefonica paid € 324 million for the Telco , which increased its share from 46 % to 66 % . But according to Telefonica does not alter corporate governance , as these shares purchased by Telefonica would not have voting rights.
The € 324 million will be used to repay debts Telco . Beyond the Telco , Italian banks Intesa Sanpaolo and Mediobanca and Generali insurance company are also members of Telecom Italia .
share
With the news of the change of control of Telecom Italia , TIM 's shares jumped nearly 6 % shortly after the opening of business on Tuesday
Source : The Weather
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This article was translated by an automatic translation system, and was therefore not reviewed by people.