Legal Issues
Brasil Telecom, the country's third largest fixed-line operator, and Opportunity, which controlled Brasil Telecom, hired Kroll to determine whether Telecom Italia competed with Brasil Telecom in 2000 in the latter's acquisition of the Brazilian fixed-line phone company Companhia Riograndense de Telecomunicoes ('CRT') from Spain's Telefónica with the purpose of increasing the final price paid by Brasil Telecom for CRT, as both Opportunity and Telecom Italia were struggling for the control of Brasil Telecom. Brasil Telecom and Telecom Italia have been locked in court struggles since 2000. Kroll was accused of spying on Brazilian government officials. Additionally, Opportunity also became involved in legal disputes with the investors in its managed funds, namely some Brazilian pension funds and Citigroup, which culminated in Opportunity's removal as the manager of these funds and, ultimately, Opportunity's losing the control of Brasil Telecom (along with other companies controlled by the funds, namely Telemig Celular, Amazonia Celular, Santos Brasil, and Opportrans/Rio de Janeiro's subway operator).
Read more about this topic: Brasil Telecom
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