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Brazil Sells Telecommunications Giant Telebras

LADB Article ID: 54654
Category/Department: Brazil
Date: 1997-08-07
By: LADB Staff

The Brazilian government sold its shares in telecommunications giant Telecomunicacoes Brasileiras (TELEBRAS) July 29, after dividing it into twelve smaller companies. The sale will bring more than US$19 billion, 64% above the base price of US$11.5 billion.

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