Telemar to buy back USD1.4bn worth of shares

10 Jan 2008

Telemar Norte Leste, a subsidiary of Brazil’s largest telecoms company by subscribers Telemar Participacoes, has revealed plans to buy back up to three million shares (voting and non-voting), equivalent to approximately 10% of traded shares during the year, writes BNamericas citing a company filing to the securities regulator CVM. It estimates the total value of the buyback could top BRL2.6 billion (USD1.4 billion).

Brazil, Oi