Printer Friendly
The Free Library
23,389,518 articles and books


Embratel Announces: ADR Ratio Change; 1 ADR = 5000 PN Shares as of June 16, 2003.

Business Editors/High-Tech Writers

RIO DE JANEIRO, Brazil--(BUSINESS WIRE)--June 11, 2003

Embratel Participacoes (NYSE:EMT)

Embratel Participacoes S.A.
NYSE: EMT; BOVESPA: EBTP3, EBTP4

The Company holds 98.8 percent of
Empresa Brasileira de Telecomunicacoes S.A.
("Embratel").


Embratel Participacoes announced today that it is implementing a ratio change of its American Depositary Receipts (ADRs) solely to comply with the minimum share price (US$1.00) requirement for maintaining its ADR listing on the New York Stock Exchange. The ratio change will be in the proportion of 1 ADR = 5000 PN shares and is expected to be effective as of June 16, 2003. There is no change in the underlying PN shares.

Embratel is the premier communications provider in Brazil offering a wide array of advanced communications services over its own state of the art network. It is the leading provider of data and Internet services in the country and is uniquely positioned to be the country's only true national local service provider for corporates. Service offerings: include telephony, advanced voice, high-speed data communication services, Internet, satellite data communications, corporate networks and local voice services for corporate clients. Embratel is uniquely positioned to be the all-distance telecommunications network of South America. The Company's network is has countrywide coverage with 28,868 km of fiber cables comprising 1,068,657 km of optic fibers.
COPYRIGHT 2003 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2003, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Jun 11, 2003
Words:225
Previous Article:Managers Capital Appreciation Fund Appoints Bramwell Capital Management, Inc. as Subadvisor.
Next Article:Saber Partners Announces Financial Conference Call with Top Texas Utility Regulator.



Related Articles
BHP Changes Ratio For Its American Depositary Receipts (ADRs).
J.P. Morgan announces Telebras Basket ADRs.
J.P. Morgan Announces Banco Santander Central Hispano, S.A. -STD- Redenomination of Shares, Increase in Nominal Value and Two-for-One Stock Split.
J.P. Morgan announces THOMSON multimedia S.A.'s two-for-one stock split and par value change.
Crosswave Announces ADR Ratio Change.
JPMorgan Announces New Telecom Italia ADR Programs.
AmBev Announces the Payment of Interest on Own Capital and Dividends.
Smith & Nephew Announces ADR Ratio Change and Quarterly Reporting in 2004.
Honda's Stock Split and the Change of Ratio of ADR to Underlying Shares.
Zacks Analyst Blog Highlights: Telmex, Embratel, Lexicon Genetics, Xoma and Genentech.

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters