Embratel finalises ATTL offer

16 Sep 2003

Brazilian long-distance telco Embratel has revealed it has offered USD110 million for regional carrier AT&T Latin America (ATTL). Under the terms of the proposed deal Embratel will pay USD74 million in cash and take on USD36 million of ATTL’s debt. Embratel is not guaranteed success however. Other bidders expected to throw offers into the ring include Chile’s Grupo GTD Teleductos and Mexico’s Telmex.