Printer Friendly

COMPANIA DE TELEFONOS DE CHILE S.A.

 COMPANIA DE TELEFONOS DE CHILE S.A.
 SANTIAGO, Chile, April 8 /PRNewswire/ -- Compania de Telefonos de


Chile S.A. (NYSE: CTC) announced today that the Resolutory Commission in charge of enforcing antimonopoly legislation in Chile has affirmed an earlier ruling by the Preventive Commission that Telefonica de Espana S.A. (Telefonica), the controlling shareholder of CTC, may not simultaneously own shares in both CTC and Empresa Nacional de Telecommunicaciones S.A. (Entel), a long distance carrier. The ruling requires that Telefonica disposes of its equity interest in either CTC or ENTEL within the next 18 months. Telefonica has advised CTC that it intends to appeal the ruling to the Chilean Supreme Court.
 Compania de Telefonos de Chile, the first South American company to list its shares on the New York Stock Exchange, is the largest telecommunications enterprise in Chile, owning approximately 95 percent of all telephone lines in the country. The company's business is providing local, long distance and international telephone services in 77 percent of the country's territory where 92 percent of Chile's population resides. Additionally, the company operates a cellular network in two principal metropolitan areas of Chile, Santiago and Valparaiso.
 -0- 4/8/92
 /CONTACT: Jaime Charles, vice president of Compania de Telefonos de Chile, 011-562-696-1147, or Joseph N. Jaffoni or Felicia Vonella of Dewe Rogerson Inc., 212-688-6840, for Compania de Telefonos de Chile/
 (CTC) CO: Compania de Telefonos de Chile S.A. ST: IN: TLS SU:


PS -- NY100 -- 6481 04/08/92 17:47 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 8, 1992
Words:249
Previous Article:AMERICAN STOCK EXCHANGE DAILY REPORT
Next Article:COLUMBIA GAS DECREASES CUSTOMERS' GAS BILLS BY 5.5 PERCENT


Related Articles
COMPANIA DE TELEFONOS DE CHILE S.A. ANNOUNCES PROJECT FINANCING LOAN ARRANGED BY THE IFC
COMPANIA DE TELEFONOS DE CHILE S.A. ANNOUNCES FINAL DIVIDEND FOR THE YEAR ENDED DEC. 31, 1991; ANNOUNCES 1992 DIVIDEND POLICY
COMPANIA DE TELEFONOS DE CHILE S.A. ANNOUNCES STRIKE INVOLVING CERTAIN UNIONS
COMPANIA DE TELEFONOS DE CHILE ANNOUNCES THE END OF STRIKE INVOLVING ITS UNIONS
COMPANIA DE TELEFONOS DE CHILE S.A. ANNOUNCES RESULTS IN U.S. GAAP FOR THE THREE MONTHS ENDED MARCH 31, 1992
COMPANIA DE TELEFONOS DE CHILE S.A. ANNOUNCES PLANS TO ISSUE CONVERTIBLE SUBORDINATED DEBENTURES
COMPANIA DE TELEFONOS DE CHILE S.A. ANNOUNCES FINAL DIVIDENDS FOR THE YEAR ENDED DEC. 31, 1992
COMPANIA DE TELEFONOS DE CHILE S.A. ANNOUNCES BOARD CHANGES
COMPANIA DE TELEFONOS DE CHILE S.A. ANNOUNCES RESULTS U.S. GAAP FOR THE FIRST QUARTER ENDED MARCH 31, 1993
COMPANIA DE TELEFONOS DE CHILE S.A. INFORMS INVESTORS ON NEGOTIATIONS

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters