03/10/2009

Telemar

This Page : Telemar Annual Results including revenue, EBITDA margin, Lucro, Investimentos, ARPU e Churn.

 


Telemar

 

Tele Norte Leste Participações S.A. is the company which has shareholding control of Telemar. Telemar works with Fixed Telephony Fixa, Cell Phone Telefony (Oi).

 

Since March 2007, Telemar commercializes services with Oi's brands. Fixed telephony service is being commercialized as OI Fixed.

 

 

Oi (Telemar): www.oi.com.br
Oi Investidores: www.novaoi.com.br/portal/site/RI

 

 

Pay TV

 

DTH

 

Anatel authorized in Sept/09 Oi group to operate services of Pay TV with satellite technology (DTH). The authorization A will belong to TNL PCS S.A.

 

 

Way TV

 

Anatel director council published in November 13th the Union Oficial Daily (Diário Oficial da União) the Act nº 68.525 which authorizes the transference of the partnership control of the concessionaire in Cable TV Way TV Belo Horizonte, through total alienation of shares, to TNL Participações S/A, subsidiary of Telemar/Oi group.

 

In 01/17/08 the act of concentration was approved and sent to CADE's deliberation.

 

Consult: Way TV

 

 

 

Fixed Telephony

 

Telemar was created by Fixed telephony Companies in 1998, in the Region I as presented in the following map:

 

 

Telemar, directly or through controlled companies, has the following concessions or authorizations to Fixed Telephony:

 

Service Concession Authorization
Local Region I except sector 3

sector 3

Regions II and III

LDN Region I except sector 3

sector 3*

Regions II and III*

LDI - Regions I, II and III*

TNL PCS S/A is the owner of the Authorization.

 

Oi (TNL PCS S/A) was the owner of National Long-Distance Authorization (sector 3 and regions II and III) and International Long-Distance. These authorizations were transferred to Telemar through the Anatel's Act 59.545 of 07/11/2006.

 

Main Fixed Telephony Indicators

 

  2006 2007 2008
Fixed Accesses Installed (thousands)
17,136 16,507
17,690
Fixed Accesses in Service (thousands)
14,388 14,222
13,939
Utilization Tax 87.2% 85.6%
-
Public Telephone (TUP) 576 573 571
ADSL in Service (thousands)
1,128 1,518 1,965
Personal - - -
Investments 1,639 1,760 2,016

 

 

Consolidated Result

 

Million de R$ 2006 2007
2008
Revenue of Fixed Telephony 20,758
20,717
20,796
Revenue of Mobile telephony - Oi 3,474,3
4,437
6,401
Revenue of Contact Center -
-
-
Total Gross Revenue 24,232,2
25,153
27,197
Total Net Revenue 16,871,8
17,584
18,736
EBITDA 6,102,1
6,517
6,067
Margin EBITDA 36.2%
37.1%
32.4%
Net (lost) Income 1,310
2,318
1,154
Liquid Debt 4,883
2,733
9,804
Total Investments 2,307
2,328
4,644

 

 

Telemar's Partnership Structure

 

 

The following table presents the shareholders composition in Telemar Participações.

 

Company
Equities
Description
La Fonte Tel.
10,3%
Jereissati Group
Asseca
10,3%
GP Investimentos and Macal
AG Telecom
10,3%
Andrade Gutierrez
Fundação Atlântico
10,3%
Entidade de Previdência Complementar
BNDESPar
25,0%
BNDES subsidiary
Fiago*
19,9%
Fcf - Shares of Investment Fund
Lexpart*
10,3%
Inepar Group
Alutrens*
10,3%
Banco do Brasil and Sul América

* Aren't included of Telemar Participações' control as a result of the respective control relation with other operators of Telecom in Brazil.

 

Telemar Participações (TmarPart) acquired 25.74% of the preference shares class A (PNA) of Telemar Norte Leste (Tmar) in an auction in 06/20/07. Later, in 11/28/07, TmarPart acquired more 9.8% of PNA shares of Tmar.

 

Telemar announced in 01/07/08 a program for reacquire of Telemar Norte Leste's shares (open for 365 days) with R$ 2.6 billion to buy until 283,522 common stocks, 2,615,835 preference shares class “A” and 106,396 shares class “B”, meaning, to which type and class, less than 10% of the shares in circulation.

 

 

Telemar (Oi) restructure

Telemar published on April 17th 2006 the proposal of joint venture reorganization with sale, through public offer, shares of Telemar controllers.

 

This proposal was denied by shareholders with preferential shares.

 

Telemar published on 04/11/07 released a communication to the market informing that would discuss the public offer Tele Norte Leste Participações'. The offer would have be conditioned to the acquisition of 2/3 of the shares. The same public offer would be done with the preference shares of Telemar Norte Leste.

 

The Public Offer Edital was published in 06/19/2007.

 

Deadline to the offer: From 06/20 to 07/24/2007.

 

Price per share

 

Company
Tele Norte Leste
Telemar Norte Leste
Kind of share
PN(TNLP4)
PNA(TMAR5)
Price per share (R$)
35.09
52.39
New price per share (R$)
45.00**
R$ 67.50*

 

 

In 07/24, Oi (Telemar) acquired 10 million in Telemar Norte's preference shares, what corresponds to 25.75% of the preference shares class A (TMAR5) in circulation in the market. The low acceptance happened even by Oi having increased the price during the auction to R$ 67.50.

 

**The holding TNL share auction was called off to August 14th. In 08/01 the price was increased for R$ 45,00 per share. In 08/13, Telemar called the auction off again, setting to 09/06/07.

 

Auction wasn't successful

Bovesp informed that the Public Offer for Acquisition (OPA) of Telemar's preference shares (TNLP4), for R$ 45,00 per shares, wasn't concluded. The acceptance, by minority shareholders, was 129,208,280, in 3,009 bids (around 50%), less than the minimum necessary of 169,831,867, equivalent to two thirds of the total (254,747,800) shares in circulation.

 

Report
(in portuguese)
Teleco's Report (Fixed Telephony)
Operators Historical Datas

 

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