Affiliate of BCI and Telecom Americas Closes Agreement With TIW.Business Editors MONTREAL--(BUSINESS WIRE)--March 30, 2001 Bell Canada International Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BCICF) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BI.) Affiliate Purchases Stake in Brazilian Cellular Companies Bell Canada International Inc. ("BCI BCI Bat Conservation International BCI Brain-Computer Interface BCI Business Continuity Institute BCI Business Cycle Indicators BCI Banco de Credito e Inversiones (Chilean bank) BCI Bell Canada International ") today announced that an affiliate of BCI and Telecom Americas Ltd. ("Telecom Americas") has closed the transaction with Telesystem International Wireless Inc. ("TIW Tiw (tē`  ), Norse Tyr (tür), ancient Germanic god. ") of Montreal to purchase TIW's
interest in the Brazilian cellular companies Telet S.A. and Americel
S.A.
The agreement with TIW is one of the agreements announced on March 13, 2001 which will collectively result in the acquisition by the purchasing company of an approximate additional 65% economic interest in the two cellular companies. Upon the closing of all the agreements, the purchasing company will hold an approximate 81% economic interest in both Telet and Americel, which together serve approximately 1 million subscribers in the Brazilian state of Rio Grande do Sul Rio Grande do Sul (rē`  grän`dĭ th s and the states
of the Central-West region. About Telecom Americas
Telecom Americas Ltd. is a facilities-based company which provides mobile wireless and broadband communications services in South America's leading markets. Owned 44.3% by each of BCI and Mexico's America Movil S.A. de C.V. (NYSE NYSE See: New York Stock Exchange : AMX) (BMV: AMX) (NASDAQ: AMOV AMOV Active Movie ) and 11.4% by SBC International, a wholly-owned subsidiary of Texas-based SBC Communications (NYSE: SBC), Telecom Americas is the three partners' primary vehicle for expansion in Latin America. About BCI A publicly-traded subsidiary of BCE Inc., Canada's largest communications company, Bell Canada International owns, develops and operates advanced communications companies in markets outside Canada, with a focus on Latin America. BCI's shares are listed on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol "BI" and the NASDAQ National Market under the symbol BCICF. Visit BCI's Web site at www.bci.ca This news release may contain or refer to other communications that may contain certain forward-looking statements that reflect the current views and/or expectations of management with respect to performance, business and future events. Forward looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance, or achievements, and may contain words like "believe", "anticipate", "expect", "envisages", "will likely result", or any other words or phrases of similar meaning. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly. |
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