A Shrinking Universe

A Shrinking Universe

Brazil

Portugal Telecom, which owns Telesp Celular, has invested $3.67 billion in Brazil this year. Mergers and acquisitions in Latin America are down by over a third so far this year compared to last. And while this is a significant decline, the level of corporate consolidations could have suffered much more given the amount of bad news hitting the region. Argentina's debt crisis, the slowdown in the US economy and Brazil's energy woes have been major shocks to Latin America. Paul Salvodelli, partner at Buenos Aires-based BGS Group, an affiliate of US private equity firm Hicks, Muse, Tate&Furst, says the

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