WorldCom crisis
Anatel won?t intervene in Embratel for now
quinta-feira, 11 de julho de 2002 , 17h12 | POR REDAÇÃO

Anatel won?t do anything about Embratel in response to WorldCom?s problems unless the U.S. telecoms giant goes bankrupt and the Brazilian subsidiary is taken over by creditors, Luiz Guilherme Schymura de Oliveira, director-general of Anatel, said during his first press conference since he took office. Embratel?s situation is of course a concern, Mr Schymura said, but its parent?s woes don?t prevent it from operating normally, just like Elektro, a subsidiary of Enron, which has already been declared bankrupt. The difference is that Brazilian telecoms law prohibits changes of ownership until five years after privatization. Mr Schymura also notes that Embratel has no concrete problems. Even the plunge in its stock price on the Brazilian market doesn?t worry him.


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