ADVFN - Advanced Financial Network.
HOME» NYSE » T » TNE Stock Price » TNE Stock News

Tele Norte Lest Share News

 Tele Norte Leste Participacoes S.a. Stock Price
TNE Stock Price
 Tele Norte Leste Participacoes S.a. Stock Chart
TNE Stock Chart
 Tele Norte Leste Participacoes S.a. Stock News
TNE Stock News
 Tele Norte Leste Participacoes S.a. Company Information
TNE Company Information
 Tele Norte Leste Participacoes S.a. Stock Trades
TNE Stock Trades

Brazil Telephone Co Oi Appoints Francisco Valim As CEO

SAO PAULO -(Dow Jones)- Brazil's largest telecommunications company, Tele Norte Leste Participacoes SA (TNE, TNLP4.BR), or Oi, has appointed Francisco Valim to take over as chief executive of the group on Sept. 1, the company said in a statement. Valim takes over from Luiz Eduardo Falco, who will leave the company at the end of June. The chairman of the board of the Oi group, Jose Mauro da Mettrau Carneiro da Cunha, will be interim chief executive until Valim takes over, the company said. The appointment of a new CEO is the latest in a series of significant developments at Oi, including the purchase of a large, though minority, stake by Portugal Telecom SGPS (PT, PTC.LB), and a more recent move to simplify the group's ownership structure. Valim is currently general manager of credit-score bureau Serasa Experian, and has in the past been the chief executive of Brazilian cable TV company Net, which was bought by Mexican billionaire Carlos Slim's telephone empire. Falco has been in charge at Oi for 10 years, becoming the top executive some three years after privatization, and under his tenure Oi emerged as Brazil's largest phone company, with its traditional fixed-line presence in much of the north and northeast of the country. It has also added mobile telephones, with around 20% market share today, and 40% of the broadband Internet market. The new chief executive takes over as Oi moves into another phase, now in partnership with Portugal Telecom. The Portuguese operator sold its stake in Oi's main mobile phone rival, Vivo SA (VIV, VIVO4.BR) last year, and subsequently bought up a 26% stake in Oi. Meanwhile, Oi moved last month to simplify its ownership structure to make its shares more attractive and reduce operating costs. The firm plans to fold four existing group companies into one single firm, Brasil Telecom SA (BTM, BRTO4.BR), which will be renamed as Oi SA. -By Matthew Cowley, Dow Jones Newswires; +55 11 3544 7082; matthew.cowley@dowjones.com

Stock News for Tele Norte Lest (TNE)
DateTimeHeadline
03/20/201206:40:48Brazil February Mobile Phone Subscriptions Up 1% From Jan
02/16/201205:02:58Brazil January Mobile Phone Subscriptions Up 1.22% From December
01/26/201208:11:25Brazil's Telecoms Regulator Orders Reduction On Tariffs
01/17/201205:17:20Brazil Mobile Phone Subscriptions Rise 19.36% In 2011
12/20/201104:54:10Brazil November Mobile Phone Subscriptions Up 1.92% From October
10/21/201110:26:36Brazil Stocks Open Higher On Hopes For Plan By France, Germany
09/26/201111:12:16CORRECT: Brazil August Mobile Phone Subscriptions Up 1.67% From...
09/26/201108:41:15Brazil August Mobile Phone Subscriptions Up 1.67% From July
07/27/201110:05:24Brazil June Mobile Phone Subscriptions Rise 1.06% On Month
06/22/201106:54:30Brazil May Mobile Phone Subscriptions Rise 1.16% On Month -Report
06/03/201114:46:42Brazil Telephone Co Oi Appoints Francisco Valim As CEO
04/21/201107:24:00Brazil March Mobile Phone Subscriptions Rise 1.42% On Month
03/15/201119:39:24Brazil's Oi Reports 3% Stake In Portugal Telecom
03/04/201117:31:22Tele Norte Leste To Focus Growth On Mobile, Internet, Pay TV
02/18/201118:11:09Brazil Telco Oi To Sell $7.2 Billion In New Common, Preferred...
01/27/201111:56:10Brazil Regulator Recommends Approval Of Vivendi Buy Of GVT
01/26/201104:59:06Portugal Telecom Signs Deal For Minority Stake In Brazil's Oi
01/26/201104:47:49Brazil's Oi, Portugal Telecom Formalize Industrial Alliance
12/16/201014:05:54DirecTV Acquires Added 18.9% Stake In SKY Brasil For $604.8 Million
12/02/201013:18:39CORRECT: DirecTV Sees More Than 30 Million Subscribers By 2013

Tele Norte Lest and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad