Canbras: Announcement.Business Editors MONTREAL--(BUSINESS WIRE)--Dec. 2, 2002 Canbras Communications Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :CBC (1) (Cell Broadcast Center) See cell broadcast. (2) (Cipher Block Chaining) In cryptography, a mode of operation that combines the ciphertext of one block with the plaintext of the next block. ) ("Canbras" or the "Corporation") stated today that, as previously announced in August 2002, it has engaged Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. Corporation ("CSFB CSFB Credit Suisse First Boston CSFB Cyclically Shifted Filter Bank ") as financial advisor to assist in reviewing strategic and financial alternatives for the Corporation. With the assistance of CSFB, Canbras is conducting a process aimed at gauging potential interest by third parties in acquiring Canbras' broadband communications operations in Brazil. At this time, the process is in a preliminary stage and there can be no assurance regarding the outcome, including whether any definitive expressions of interest or bids will be made, or if made whether any such proposals will be on acceptable terms, including price, or whether any agreement could be concluded. In addition, if any such agreement could be concluded, the closing of any transaction would be subject to regulatory and other required approvals. Canbras, through the Canbras Group, is a leading broadband communications services provider in Brazil, offering cable television, Internet and data services in Greater Sao Paulo and surrounding areas and the State of Parana. Canbras Communications Corp.'s common 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 trading symbol Trading symbol See: Ticker symbol CBC. Visit our website at www.canbras.ca. Bell Canada International Inc., a subsidiary of BCE BCE abbr. 1. Bachelor of Chemical Engineering 2. Bachelor of Civil Engineering BCE Abbreviation for before the Common Era. Inc., Canada's largest communications company, is the indirect majority shareholder of the Corporation. Forward-looking statements This news release may contain certain forward-looking statements that reflect the current views and/or expectations of Canbras with respect to its 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", "will likely result", or 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. The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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