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We are being sued on a number of legal proceedings, on different
grounds. Our management believes that such actions, if decided
adversely to us, would have a material adverse impact on our
business, financial condition and results of operations. Some
of these legal proceedings include the following categories:
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· legal proceedings
with respect to the Breakup of Telebrás;
· foreign source operating income;
· withholding tax on remittances to foreign telecommunications
companies;
· COFINS, a federal social contribution charge;
· ICMS tax on international outbound traffic and
bundled services;
· legal proceedings against Telebrás; and
· legal proceedings initiated by Anatel against
us. |
See "Item 8. Financial Information - Legal Proceedings"
for a complete description of these proceedings.
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