Embratel to open doors to potential bidders

27 Jan 2004

Brazilian telco Embratel plans to set up a data room on 2 February to enable several potential bidders looking to buy the company to go over its books. In a move that could ultimately blow up in its face – given that it is allowing its competitors access to potentially highly sensitive information – Embratel is allowing local incumbents Telemar, Brasil Telecom and Spain’s Telefónica to examine its finances, along with local corporate services provider Geodex and Mexico’s Telmex.