Telecom Italia's statements concerning Brasil Telecom's development plans

07/13/2001 - 00:00 PM

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With regard to press reports concerning Brasil Telecom´s development plans, Telecom Italia wishes to clarify that its position on the Board of Directors of Solpart, the company that controls Brasil Telecom, is to accelerate the programme of rolling out Brasil Telecom services nationwide across Brazil (by bringing forward the "universalization objectives"), pending Brasil Telecom approval of its budget.

That this objective is advantageous to Brasil Telecom is borne out by the fact that the principle pension funds that sit on the Solpart Board of Directors wholly share Telecom Italia´s stated position.

Expansion of service throughout Brazil will enable Brasil Telecom to achieve a position of leadership in the huge and promising Brazilian telephony market.

Telecom Italia stresses that any delay or postponement of implementing Brasil Telecom´s growth objectives poses the risk of weakening the company and hindering it from seizing opportunities for growth and development.