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"Telecom-solidation" in Brazil--Will It Continue? Nov 01
Standard & Poors, Nov 2001
Abstract
The Brazilian cellular consolidation process started in 2000 and is expected to continue during next year. A total deregulation will only be possible after 2002, and only if the existing companies manage to meet Anatel's (Brazilian telecommunications regulatory agency) targets, or, in the case of the band-B operators, decide to migrate to PCS (Personal Cellular Service). Thus, in the near future, associations, joint ventures, and acquisitions will tend to include wireline operators, small mirror companies, cable companies, utilities, and limited specialized telecommunication service providers, derived by the need to increase or expand coverage in new areas, or to achieve the last mile. Standard & Poor's believes that the dominant players in the Brazilian market will be those with a national...
Companies mentioned in this report are: AT&T Inc.,Telefonica S.A.,Bell Canada International Inc.,Portugal Telecom SGPS S.A.,Brasil Telecom S.A.,Telecom Italia SpA,Tele Norte Leste Participacoes S.A.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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