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Description of Embratel
Embratel - Empresa Brasileira de Telecomunicações S.A. (Portuguese for "Brazilian Telecommunications Company") (BM&F Bovespa: EBTP3 / EBTP4) is a second major Brazilian telecommunications company headquartered in Rio de Janeiro. The company was the long distance arm of Telebras until it was bought by the U.S. company MCI Communications for 2.65 billion reais during the 1998 break-up of Telebras. However, MCI Communications went bankrupt in 2003. Since 2003, it is owned by Telmex, the Mexican telecommunications giant. Embratel is a major player in both voice and data communication in Brazil. The company owns a fully digitized microwave communications and fibre optic networks as well as five domestic communication satellites. The company is a member of the Intelsat and Inmarsat organizations and it owns four fiber optics submarine cable systems - Unisur, Americas II, Atlantis-2 and Columbus III. Embratel's stock is traded on BM&F Bovespa.
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