BCI's New Brazilian Internet Company Makes First Acquisition: BV Interativa Ltda Acquires BRHS S.A.Business Editors REPEATING... MONTREAL--(BUSINESS WIRE)--March 23, 2000 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 its new Brazilian Internet company, BV Interativa Ltda. ("BV Interativa"), has acquired the Brazilian Internet service provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. , BRHS BRHS Broad Run High School BRHS Broad Ripple High School (Indianapolis, IN, USA) BRHS Blue Ridge High School (South Carolina) BRHS Black River High School BRHS Boca Raton High School S.A. ("BRHS"), for a purchase price of approximately US$14 million (subject to certain adjustments). BV Interativa is a new venture which has been formed by BCI, VeloCom Inc. and QUALCOMM Inc., the partners in two Brazilian competitive access providers which are providing services in over forty Brazilian cities under the brand name, "Vesper". BCI holds a 45 % interest in BV Interativa. Headquartered in Belo Horizonte, BRHS is a Brazilian Internet Service Provider which provides a range of high quality Internet access and Web-based services to business and residential customers in 18 Brazilian cities, including 12 leading cities in the Vesper licensed territories. Mr. Louis Tanguay, President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of BCI and Chairman of the Vesper companies, stated: "The acquisition of BRHS represents a first step by BV Interativa into the fast-growing Brazilian Internet economy. The partners in BV Interativa intend to exploit the market and technical expertise of BRHS management and to build on the BRHS base by exploring and developing a variety of other promising opportunities. In doing so, BCI hopes to lever the growing Web expertise of our sister companies in the BCE group while complementing the high speed Internet access services of our Brazilian broadband cable operations." Bell Canada International is in the business of building and developing advanced communications companies in markets outside Canada, with a focus on Latin America and the Asia-Pacific region. A subsidiary of BCE Inc., Canada's largest communications company, BCI is 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 on the Nasdaq national market under the symbol BCICF. Visit our Web site at www.bci.ca |
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