News

Brazil phone operator buys rival

14 January 2001

On January 13 2001, Telesp Celular Participacoes SA, Brazil's largest cellular operator, bought Global Telecom SA for US$1.21 billion.

New regulation promotes investment in Ecuador

11 January 2001

The Executive issued a Regulation that guarantees, encourages, and promotes national and international investment in Ecuador.

BankBoston customers get access to online banking in Brazil

10 January 2001

BankBoston, a subsidiary of US-based Fleetboston, has signed an agreement with wireless operator BCP, a subsidiary of US-based Bellsouth, which will enable its Brazilian customers to have access to online banking services via the internet.

Dutch TV production company acquires a majority stake in Argentina's Producciones y Publicidad

09 January 2001

On January 8, Endemol Entertainment, advised by Marval, O'Farrell & Mairal, announced the acquisition a majority stake in the Argentine television producer P&P.

Modification of legal regime governing cable television services to enable foreigners to become licensees.

08 January 2001

On December 29 2000, by Executive Order No. 400/00, which was published in the Official Gazette on January 8 2001, the Uruguayan Government changed the legal regime regarding the requirements for becoming a licensee for the provision of cable television services.

Simplified Tender Offers in Chile

05 January 2001

On January 5 the regulator Superintendencia de Valores y Seguros enacted general rules regulating simplified tender offers.

Brasil Telecom acquisition of regional provider blocked.

02 January 2001

On January 1 2001, the seventh Court of Federal Justice of Rio Grande do Sul blocked the incorporation of CRT into Brasil Telecom. The judge based the decision on charges that the CRT was undervalued when sold to Brasil Telecom because of a lack of financial transparency.

Holland & Knight establishes offices in Brazil

02 January 2001

George Mencio, head of the firm's international practice announced that the firm's association with Evaldo Ramos Advogados became effective on January 2, 2001, establishing offices in São Paulo and Rio de Janiero.

Colombian Tax Reform

01 January 2001

A new tax reform was enacted in Colombia on December 29, 2000, known as Law 633 (‘the Law’). This report focuses on the main provisions of the Law which may be of interest to foreign investors

Discussion of derivative action in Chile

01 January 2001

January 2001: The recently approved Tender Offer and Corporate Governance Bill introduces certain issues of corporate governance issues into Chilean commercial legislation, with the purpose of bringing such legislation into line with international standards. The Bill however refers only to limited aspects of corporate governance.