SAN ANTONIO-SBC Communications Inc. said it has agreed to acquire a “significant stake” in Brazilian wireless operator Algar Telecom Leste SA.
Telefonos de Mexico SA is joining SBC in the investment. Financial terms of the agreement were not released.
As part of the transaction, Williams Communications will reduce its stake in ATL to 50 percent. SBC and Telmex then will increase their combined investment in the company to 50 percent following regulatory approval, said SBC.
ATL offers wireless service in Brazil’s Rio de Janeiro and Espirito Santo states. It has added 900,000 wireless subscribers since it began service in December 1998, said SBC.
