Citigroup ruling helps Brasil Telecom shares

21 Mar 2005

Shares in Brasil Telecom have risen by around 8.2% following a ruling by a US court that New York-based bank, Citigroup, could fire Daniel Dantas, the manager of the Opportunity fund that controls the Brazilian telco. Dantas has spent almost eight years feuding with other shareholders of Brasil Telecom, in particular Telecom Italia which has been looking to re-purchase the 18.3% stake in the telco that is was forced to sell in 2002.

Brazil, Brasil Telecom (BrT)