Dec 14, lei de 28 de maio de 10, Parágrafo Terceiro – Compete à Diretoria exercer as atribuições que a Lei, o Estatuto Social e o Conselho de . da Companhia e o valor pago em bolsa, pelas ações da Companhia neste período, devidamente atualizado. Dec 11, (Available from ccivil_03/Leis/. Lhtm. Accessed 8/12/). BRAZIL. Law No , of 25 November.

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Because these forward-looking statements are based on estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond our control or are subject to change, our actual results could be materially different from the beliefs we express in our forward-looking statements.

We are pursuing several measures, including a proposed debt restructuring, designed to improve our capital structure and better align our operating costs, financial expenses and capital investment levels with our anticipated future revenues and cash flows. The Brazilian government may impose temporary restrictions on the conversion of Brazilian currency into foreign currencies and on the remittance to foreign investors of proceeds from their investments in Brazil.

International investors generally consider Brazil to be an emerging market.

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Anatel must receive notice of any change in the capital structure of a licensee within 60 days, including any transfer of shares or increase of capital, which does not result in a change of control. The following table shows subscriber figures and other information for each of our various channel packages as of December 31, We also offer corporate data transmission services through our subsidiary, Vicom. In addition, most of our subsidiaries have brought actions to review atjalizada reduce the amounts charged for the lease of poles.

If a substantial number of preferred shareholders elect to seek cash reimbursement from us and we elect to proceed to enter the Novo Mercado nonethelesswe may be subject to significant payment obligations, which could adversely affect our atualizava position. Competition for qualified personnel in Brazil is strong, and there is generally a limited number of persons with the requisite experience in the sectors in which we operate. In addition, we have an ongoing marketing program in which we participate in community projects in areas in which we operate.

The Brazilian government has exercised, and continues to exercise, significant influence over the Brazilian economy. A home terminal, or set-top box, which allows an individual subscriber to receive the cable signal. Since the tests were performed for the first time inreflecting a change in accounting principles, the impairment losses were recognized as non-operational.

Accordingly, the depreciation rate of the net book value of the following items has been revised: 100683 corporate affairs are governed by our by-laws and the Brazilian corporate law, which differs from the legal principles that would apply if we were incorporated in a jurisdiction in the United States, such as Delaware or New York, or in other jurisdictions outside Brazil.


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The table below provides certain information about our network and subscribers both overall and by class. The acquisitions we completed in had significant and varied effects on our operating results and financial position inandsuch that our historical results of operations and financial position for and are not fully comparable with Duringwe expect to begin offering our subscribers digital cable services, which will carry many more channels than our current programming packages.

We believe this municipal tax is unconstitutional since it is not included in the list of taxes within the jurisdictional authority of municipalities, as established in the Brazilian federal constitution.

Within this general trend of depreciation, the Brazilian currency has shown high volatility. We believe the introduction of bi-directional, high-speed Internet services to Brazil presents a business opportunity due to several factors: Securities registered or to be registered pursuant to Section 12 g of the Act: Our collection system is intended to provide accurate, timely and convenient billing to our customers while maintaining a cost-efficient method for us to receive payment.

Holders of our preferred shares and ADSs are not entitled to a fixed or minimum dividend. In addition, a lawsuit has been brought by the Attorney General for the State of Rio de Janeiro against one of our subsidiaries concerning the legality of certain clauses in our standard subscription contract used by one of our subsidiaries, including a clause that provides for unilateral increases in monthly subscription rates.

Since Augustwe have been developing a new system structure with the aim to improve all internal controls and user accesses. Brazil is the largest free broadcast television market in Latin America, with approximately Indicate by check mark whether the registrant 1 has filed all reports required to be filed by Section 13 or 15 d of the Securities Exchange Act of during the preceding 12 months or for such shorter period that the Registrant was required to file such reports and 2 has been subject to such filing requirements for the past 90 days.

In addition, we are party to various legal actions arising in the ordinary course of our business, including disputes regarding contracts, labor law and taxation.

Increases in programming costs would adversely affect our cash flows and operating margins.

Holders of our common shares will be able to control most corporate transactions. Lie LGT governs the regulation of all telecommunications services, with the exception of radio and TV broadcasting services.


Further, a cable television operator may acquire programming produced outside of Brazil only through a company located in Brazil.

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These events were exacerbated in Brazil by the currency depreciation and related economic developments. Forwe plan to continue to examine additional cost-cutting initiatives. Any increases in programming costs that we are unable to pass on to our customers would adversely affect our cash flows and operating margins.

Changes in circumstances such as technological advances, changes to our business model or changes in our capital and investment strategy can result in the actual useful lives differing from our estimates leading management to revise useful lives that can be shortened for atualizadda asset categories and le for others depending on technological decisions made by us.

From January 1, through December 31,we depreciated our cable plant at a rate of As of December 31, we had activated two-way, or bi-directional, technology for 2. Renewal of the cable television license by Anatel is assured if the cable system operator has i complied with the terms of the license grant and applicable governmental regulations and ii agrees to meet certain technical and economic requirements relating to the furnishing of adequate service to subscribers, including system modernization standards.

We will collect old analog set-top boxes and reuse them for new and existing analog subscribers. Leite and our other major shareholders at that time, sold their interests in Multicanal to Globopar. We have not made scheduled principal or interest payments on any of our debt since December 2,and we have ztualizada maintained specified financial ratios nor met specified financial tests required under certain debt facilities and instruments.

These tests indicated that atualizda impairment loss must be recognized at the goodwill atuualizada both the Net Sul and Vicom acquisitions.

If we or our major shareholders sell large blocks of preferred shares or common shares, the market prices of the preferred shares and the ADSs could be adversely affected.

As a result, duringour programming autalizada increased as a percentage of revenue due to a decline in the value of the real in dollars. We have not established any reserves for the payment of this tax. Our headends send content via light signals through our optical cable to an optical node, where an optical receiver translates the signals into an electric leii that is transmitted over our coaxial cable.