Telebras is a Brazilian telecommunications company which was the state-owned monopoly telephone system. It was broken up in July 1998 into twelve separate companies, nicknamed the 'Baby Bras' companies, that were auctioned to private bidders. The new companies were the long distance operator Embratel, three fixed line regional telephony companies and eight cellular companies. It was re-established in 2010 according to Decree No. 7.175 that established the National Broadband Plan (PNBL), when then-President Luiz Inácio Lula da Silva tasked it with managing a nationwide plan to expand broadband Internet access. Telebras implements the private communication network of the federal public administration, public policy support and supports broadband, besides providing infrastructure and support networks to telecommunications services provided by private companies, states, Federal District, municipalities and nonprofits.
History
Attempts at privatization began during Fernando Collor de Mello's administration in 1990, as part of an economic reform dubbed National Privatization Program, within the Plano Collor, which was conducted by then-finance minister Zélia Cardoso de Mello[1] The privatization was carried out some 8 years later during the administration of Fernando Henrique Cardoso, on July 29, 1998.[2] Shares of the 12 "Baby Brás" began trading on the Brazilian stock exchange on September 21, 1998; and US-based trading of American Depository Receipts began on November 16 of the same year.