Foreign investors flee Latin America

摘要

Sao Paulo and Surfside, Fla.―The disappearing act of multinationals in the Latin American service provider market continues. Brasil Telecom recently announced plans to purchase Fidelity Investments' 80% share of MetroRed Brazil. According to the two-part agreement, Brasil Telecom initially will acquire 19% of the carrier for $17 million, with the remaining 69% and an additional $51 million contingent on the approval of Brazil's telecommunications regulator Anatel. Brasil Telecom has about 10 million voice and business subscribers, and MetroRed has an extensive SDH/ATM network throughout the country.