Embratel

Embratel was a 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 América Móvil, 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 fiber optic networks as well as eight 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. The company was responsible for South America's first telecommunication system, Transdata. In 2013, Embratel started to sponsor the tennisman Thomaz Bellucci. Embratel's stock was traded on BM&F Bovespa.