SAO PAULO, Brazil-BellSouth Corp. said it acquired 16.5 percent of the total capital of Brazilian cellular operator Tele Centro Oeste Cellular for $229 million, bringing the number of its Brazilian wireless investments to three.
Through a two-phase acquisition, BellSouth first purchased 11.8 percent of common stock with voting rights in Tele Centro Oeste, followed by American depository receipts or preferred stock earlier on May 4.
Tele Centro Oeste serves the Brazilian states of Goias, Tocantins, Mato Grosso, Mato Grosso do Sul, Rondonia, Acre and Brasilia. The operator had about 573,000 subscribers at the end of 1999. Tele Centro Oeste is owned 67.91 percent by Splice do Brasil.
BellSouth also holds 44.5 percent of BCP, an operator in the Sao Paulo metropolitan area, and 33.74 percent of BSE, which operates in six northeastern states.
