Brasil Telecom asks SEC to investigate Citigroup

9 Aug 2005

Brazilian fixed and mobile operator Brasil Telecom has requested that the US Securities and Exchange Commission (SEC) investigate the behaviour of one of its major shareholders Citigroup, and examine whether it complies with US securities laws. The request was made after Citigroup attempted to elect a new board at Brasil Telecom, a move which the telco claims was illegal.

Brazil, Brasil Telecom (BrT)