Affiliate of BCI and Telecom Americas Closes Agreements With Brazilian Pension and Investment Funds.Business Editors MONTREAL--(BUSINESS WIRE)--Sept. 25, 2001 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 ") (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.) today announced that an affiliate of BCI and Telecom Americas Ltd. ("Telecom Americas") has closed transactions with a group of Brazilian pension and investment funds to purchase their interests in the Brazilian cellular companies Telet S.A. and Americel S.A., which together serve over 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.
As a result of the closing of the agreements, which were announced on March 13, 2001, the purchasing company will now hold an approximate 76% economic interest in both Telet and Americel. In addition, upon the completion of remaining commitments subject to regulatory and other approvals, the purchasing company will ultimately hold an approximate 81% economic interest in Americel and Telet. 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 41.7% by BCI (TSE: BI) (NASDAQ: BCICF), 45.5% by Mexico's America Movil S.A. de C.V. (NYSE NYSE See: New York Stock Exchange : AMX AMX American Motors Experimental AMX Aeromexico Aerovias de Mexico (ICAO code) AMX Air Mobility Express AMX Amberjacks (FAO fish species code) AMX Alabama Motor eXpress ) (BMV: AMX) (NASDAQ: AMOV AMOV Active Movie ) and 12.8% 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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