04005-001 - São Paulo - SP - Brazil
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _______ No ___X____
Participants: Miguel António Igrejas Horta e Costa; Iriarte José Araújo Esteves; Carlos Manuel de Lucena e Vasconcellos Cruz; Zeinal Abedin Mohamed Bava; Paulo Jorge da Costa Gonçalves Fernandes; Francisco José de Azevedo Padinha; Gilson Rondinelli Filho; Eduardo Perestrelo Correia de Matos; Luis Manuel Pêgo Todo Bom; Norberto Veiga de Sousa Fernandes; Estanislau José Mata Costa; Guilherme Silvério Portela Santos; José Pedro Faria Pereira da Costa; Maria Paula de Almeida Martins Canais; Rui Manuel de Medeiros D’Espiney Patrício; Paulo José Soares; Antônio Gonçalves de Oliveira.
On October 24, 2002, at 10:00 am, at the corporate headquarters located at Rua Abílio Soares, 409, in the city of São Paulo, the members of the Board of Directors of Telesp Celular Participações S/A met to deliberate on the following issues: 1) General business situation – Analisys of the 3rd quarter financial statements; 2) Migration to the Personal Communication Services (PCS) (Brazilian SMP) by means of the creation of the Joint Venture; 3) Competition Analysis; 4) Other subjects of interest.
OCURRENCIES AND DELIBERATIONS
1) Mr. Gilson Rondinelli Filho presented the general business situation. Therefore, the 3rd Quarter Financial Statements were judged and approved, unanimously.
2) In the context of the creation of the Joint Venture between Portugal Telecom, SGPS, S.A., the Company’s controlling shareholder, and Telefónica Móviles, S.A. after the necessary clarifications, was unanimously approved the adaptation of the instrument of concession of Telesp Celular. wholley owned subsidiary, from the Mobile Cellular Services (SMC) to the Personal Communication Services (PCS) (Brazilian SMP) regime. The directors were authorized to approve, in Telesp Celular S.A. General Shareholders Meeting, to be summoned in timely fashion, the implementation of the necessary arrangements with the “Agência Nacional de Telecomunicações” – Anatel, the Brazilian Telecommunications regulatory body, for the adaptation of its concession instruments to the PCS (SMP) regime.
3) Mr. Luis Avelar presented the Competition Analysis.
4) By the initiative of Mr. Director Antonio Goncalves de Oliveira, unanimously approved, the recognition and exacerbation of Mr. Francisco Jose de Azevedo Padinha due to his excellent services rendered in the practice of his as the Company's CEO were registered
Having no further issues to be discussed, these minutes were drawn by myself, the secretary, then were read and approved and undersigned by the members of the Board.
Luis Fernando Amadeo de Almeida Secretary
Statements contained in this press release may contain information, which is forward-looking and reflects management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. Any statements, expectations, capabilities, plans and assumptions contained in this press release that do not describe historical facts, such as statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. There is no guarantee that these results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.