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make a meaningful move forward. After adjusting for the weaker Brazilian real, we are lowering our fair value estimate for TNE to $12 per ADR from $15. We are now using an exchange rate of BRL 1.75 per U.S. dollar as of Oct. 10, 2011 (versus
Tele Norte Leste Participacoes TNE announced Wednesday that Telemar Participacoes, its controlling shareholder, is considering a tender offer for Tele Norte's
Telemar's Fair Value (Maintaining) We are maintaining our fair value estimate for Tele Norte Leste Participacoes, aka Telemar TNE , although some of our assumptions have changed. Previously, our growth forecast was founded largely on expected government
government some of its wireless licenses and spectrum, and that a smaller wireless operator, like Tele Norte Leste's (Telemar) TNE Oi unit, would be interested in these assets. An attempt by America Movil to get bigger could trigger the merger of Telemar
for risk, many developing-markets stocks have taken it on the chin. Brazilian telecommunications providers Tele Norte Leste TNE and Vivo Participacoes VIV haven't been spared amid the onslaught: The stocks are down 26% and 35%, respectively, for
telecom regulator) data suggests that Vivo and TIM stole a small amount of share from Oi (the brand name for Tele Norte Leste's TNE mobile arm) and Claro in the fourth quarter. For the year, however, the four major carriers all pretty much maintained their
While Tele Norte Leste's TNE (known as Oi) third-quarter earnings report was in line with our expectations, the continued erosion of its core fixed-line
the sector becomes more profitable, new competitors become motivated to enter the fray. Fixed-line carriers such as Oi TNE and Embratel have already started offering satellite service in the past year, and new cable firms such as GVT will be turning
75 BRL from 1.56 BRL per USD), which will have small negative impacts on the fair value estimates for: America Movil AMX, NII Holdings NIHD, Telmex TMX, Net Servicos NETC, Tele Norte Leste TNE , Telesp VIV, and Tim Participacoes TSU.