SAO PAULO, Brazil-Telesp Celular Participacoes, the Brazilian cellular telecom holding company, announced its board of directors has approved a distribution of interest on net worth for fiscal year 1999 to shareholders of record on Jan. 10. The amount of the interest payment will be about 6 cents per 1,000 TCP shares.
Non tax-exempt shares are subject to a 15-percent withholding tax, resulting in a net interest payment of about 5 cents per 1,000 TCP shares. The distribution must be approved at a general shareholders meeting to be held in the next few months, said TCP.
