PCS competition
Brasil Telecom deal to lapse if TIM startup fails
quinta-feira, 19 de setembro de 2002 , 20h34 | POR REDAÇÃO

If TIM?s competitors win injunctions or take other successful action to prevent the launch of its new PCS service, the deal whereby Telecom Italia transferred half of its stake in Brasil Telecom (BrT) to Opportunity will be made null and void. This is one of the conditions laid down in the documentation detailing the agreement. Another clause specifies reversal of the equity transfer on January 1, 2004, or earlier if BrT meets its regulatory targets as a fixed-line incumbent. Under the agreement, Telecom Italia transferred 18.29% of its voting stock in Solpart to Techold and Timepart. Solpart owns 53.45% of Brasil Telecom Participações, which in turn owns 97% of BrT. Because Telecom Italia?s stake was 19% at the time of privatization, among other reasons, the deal was approved by the board of Anatel as well as its lawyers and public service department. Anatel won?t give the green light for TIM to start operating PCS, however, until it?s officially advised that all directors appointed to the board of BrT by Telecom Italia have resigned.


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