Telebrás reports US$13mn net loss in 2008
Bnamericas Published: Tuesday, March 03, 2009
Brazilian telecommunications holding company Telebrás on Tuesday reported a net loss of 31.8mn reais (US$13mn) for 2008, 29% higher than the 24.2mn-real loss in 2007, the company said. The state-run company recently approved a 200mn-real capital increase, to be fully subscribed by the government. Telebrás has been a non-operating holding company since Brazil's telecommunications system was privatized in 1998. It is rumored that the government plans to reactivate Telebrás as a network operator, whereas today it is limited to providing staff for telecoms regulator Anatel.
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