Market: Brazil

Telefónica SA launches intenational share exchange offer - June 1, 2000

The share swap plan, announced in January, involves an offering of a quarter of the companies' value and will consolidate Telefónica's presence in Latin America.

01 June 2000

New rules for establishment of Brazilian financial institutions abroad

The National Monetary Council (CMN) issued Resolution No. 2723 on May 31, 2000, which established the rules, conditions and procedures for financial institutions planning to open branches and representative office abroad.

31 May 2000

Doubt lingers over Brazilian antitrust authority presidency

Continuing uncertainty continues to surround the appointment of the next president of the Brazil's principal antitrust authority, CADE, reports the international journal of competition policy and regulation, Global Competition Review.

13 May 2000

Transactions with ALADI lose official guarantee

The Central Bank of Brazil will no longer undertake the risk of the import/export transactions entered into between the countries of the Latin American Integration Association (ALADI) and the Dominican Republic.

10 May 2000

Reciprocity of taxation treatment with USA

Act 028 of April 26, 2000 of the Internal Revenue Department states US federal legislation permits the deduction of tax, verifiably paid in Brazil, on revenue and income earned and taxed in Brazil.

26 April 2000

New rules for investment in private pension funds

The National Monetary Council (CMN) approved new rules on investment in the private pension funds, which are contained in Resolution No. 2720 issued by the Central Bank of Brazil on April 24, 2000.

24 April 2000

Right to exploit satellites for transportation of telecommunications signals

On April 5, 2000 the National Telecommunications Agency (ANATEL), approved the regulation on the right to exploit satellites for the transportation of telecommunications signals (Resolution 220).

05 April 2000

Tozzini, Freire, Teixeira e Silva adds new partner to its international law practice.

Gilbert Lemos Zeiger will be based in the firm's São Paulo office, concentrating in corporate law, with special focus on aircraft financing and international transactions. He was admitted to the São Paulo Bar in 1982. Zeiger has represented foreign lessors and lenders in cross-border transactions involving commercial and corporate aircraft, medical equipment, computers and manufacturing equipment.

01 April 2000

New hires at Veirano e Advogados Associados

Rio-based Veirano e Adovgados Associados has boosted its litigation, real estate and securities / capital markets practices with three new hires.

01 April 2000

Three out of five for Competition Regulator

'Rating the Regulators' survey conducted by Global Competition Review finds balance between dissatisfaction and satisfaction with the Economic Defence Administrative Council in the six key areas surveyed.

01 April 2000

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