BNY Mellon, the asset management and securities servicing, has been selected by Brasil Telecom S.A. and Brasil Telecom Participacoes S.A. as the successor depositary bank for their American depositary receipt (ADR) programs. Each Brasil Telecom ADR represents three preferred shares and trades on The New York Stock Exchange (NYSE) under the symbol “BTM.” Each Brasil Telecom Participacoes ADR represents five preferred shares and trades on the NYSE under the symbol “BRP.” The preferred shares for both Brasil Telecom and Brasil Telecom Participacoes trade on the Sao Paulo Stock Exchange (BOVESPA) under the symbol “BRTO4” and “BRTP4,” respectively.
Both companies are subsidiaries of the Brazil-based “Oi” Group and provide local fixed-line telecommunications services and intraregional long distance telecommunications services in Brazil’s Region II, which is comprised of nine states and the Federal District. The companies also provide broadband services, mobile services, and a variety of data transmission services through various technologies and means of access.
“BNY Mellon’s expertise and experience continue to play an important role in our corporate reorganization, and we are pleased to have them as a partner to service our global shareholder base,” says Roberto Terziani, Oi’s head of investor relations.
“Our longstanding experience, combined with an array of fully integrated DR services, makes BNY Mellon the logical choice as depositary,” says Michael Cole-Fontayn, chief executive officer of BNY Mellon’s Depositary Receipts business. “We are delighted to be the depositary for the Oi Group companies and look forward to working together on the upcoming corporate reorganization.”
D.C.