TELECOMUNICAÇÕES DE SÃO PAULO S.A. – TELESP
Announces a Share Swap Between TISA and PT Involving 23% of the
Capital of SP Telecomunicações Holding S.A.
Press Release, November 28, 2000 (1 page)
For More Information, contact:
Charles E. Allen
Telecomunicações de São Paulo S.A.- TELESP
Tel: (55 11) 3178-1990
Fax: (55 11) 3178- 1576
e-mail: [email protected]
(São Paulo – Brazil), (November 28, 2000). Telecomunicações de São Paulo
S.A. – Telesp (the “Company” or “Telesp”) – NYSE: TSP; BOVESPA: TLPP –
announced, in compliance with Comissão de Valores Mobiliários (“CVM”)
instruction #31, dated February 8, 1984, that in November 27, 2000 Telefónica
Internacional S.A. (“TISA”) and Portugal Telecom, S.A. controlled Companies
(Portugal Telecom Investimentos, SGPS, S.A., Inbrug Investimentos e Serviços,
SGPS, Lda. e Ptelecom Brasil S.A.) implemented an operation to swap shares
that resulted in the acquisition by TISA from Portugal Telecom, S.A. of its
indirectly owned shares in SP Telecomunicações Holding S.A. (“SPTH”)
representing 23% of the capital. SPTH is a society that holds a significant
participation in the Company’s capital. Said acquisition
complied the
transference to Portugal Telecom Investimentos, SGPS, S.A., of the shares
TISA, directly and indirectly, detained in Portelcom Participações S.A. the holding
that controls Telesp Celular Participações S.A. and an additonal payment in cash
of US$59,882,000.00. Said shares are equivalent to 35.8% of the capital of
Portelcom Participações S.A.
The referred operation to swap the shares was previously approved by Agência
Nacional de Telecomunicações – ANATEL by the Edict #12.602, dated
November 1, 2000 and published in the Official Gazette in November 7, 2000.
Upon the full completion of the operation, Telefónica, S.A. will have absolutely no
direct or indirect participation in the capital of Telesp Celular Participações S.A.,
and likewise, Portugal Telecom, S.A. will have absoluely no direct or indirect
participation in the capital of Telecomunicações de São Paulo S.A. – Telesp.
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