Nov 29, 2001 : Brazil's Intelig Gets $50m in Financing
📅 - French telecom equipment maker Alcatel (alcatel.fr) andCanada's Nortel Networks (nortelnetworks.com) will finance Brazilianlong-distance telephone operator Intelig (intelig.net.br) with $50 million.
Intelig said yesterday that according to a contract signed with the twofirms, Alcatel would provide about 75 percent of the credit. However, marketanalysts had been expecting Intelig to raise more than that to invest innetwork expansion over the next few years, according to Reuters. Earlier this month, Intelig said its partners were planning to sell part ofthe company and were looking for new investors through UBS Warburg. Britain's National Grid owns 50 percent of Intelig, 25 percent belongs toFrance Telecom and U.S.-based Sprint owns another 25 percent. Brazil's telecommunications sector, which experienced a brief boom recently,is now facing economic problems such as unpaid bills, affected by the globaleconomic downturn.
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