Canbrás Communications, a Canadian public company controlled by Bell Canada, is awaiting delivery of bids for its equity in Canbrás do Brasil on Friday March 14. The sale was announced last year and is scheduled for completion by mid-2003. Canbrás operates in Brazil in partnership with TVA in some cities, Alusa in others, and also holds licenses jointly with entrepreneur Walmor Bergesh. It isn?t clear what will happen to these other shareholders in Canbrás do Brasil after the sale, but the signs are that the deal will affect only foreign investors.
The likeliest candidates among prospective buyers are Horizon and Hicks, Muse, Tate & Furst, a private equity fund that controls TV Cidade. Well-informed sources say Hicks has recently invested most of its spare cash in TV Cidade and won?t want to overextend unless the price of Canbrás is irresistibly attractive. Canbrás has some 200,000 cable-TV subscribers and will probably go for around 400 US Dollars per subscriber.
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