Afterglow of Brazil's Telebras privatisation

Article Abstract:

Brazilian telephone company, Telebras, raised US$19 billion when it was privatised in July 1998. Telebras was broken into one long-distance operator, three fixed-line and eight cellular operators. Licences are to be sold for 'mirror companies' which will compete against these. There is already competition in the cellular telephone sector and new concessions are being negotiated between the government and the telecommunication sector. The government hopes these concessions will bring in another US$5 billion.

Economic policy, Brazil, Telecomunicaoes Brasileiras S.A.

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Telecom Italia's record sale

Article Abstract:

The sale of the Italian government's controlling stake in Telecom Italia was four times oversubscribed. Most of the stock was taken up by 2 million small investors. Italian and foreign institutional investors wanted to purchase around 800 million shares, but will only receive a maximum 280 million shares at 11,200 lire per share. A golden share will be retained by the treasury. The next large privatization planned in Italy is the sale of electric utility ENEL, which is set to take place in 1998.

Italy, Privatization, Privatization (Business), Telecom Italia S.p.A.

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