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Short take: MCI, Telefonica get key Telebras parts

MCI and ally Telefonica de España have secured key parts of Brazilian telephone company Telebras in an auction, analysts said. Already partners in a transatlantic alliance, MCI and Telefonica paid high premiums to nail down a strong position in the large, untapped Brazilian market, they added. Telebras sold for $19 billion, according to Reuters.

MCI and ally Telefonica de España have secured key parts of Brazilian telephone company Telebras in an auction, analysts said. Already partners in a transatlantic alliance, MCI and Telefonica paid high premiums to nail down a strong position in the large, untapped Brazilian market, they added. Telebras sold for $19 billion, according to Reuters.