Telecommunications, which made up a large portion of the overall high yield universe of issuers, dragged down the entire high yield market.
Indeed, the telecommunications sector, which makes up about 50percentt of the Bovespa, has led Brazil's downward trend.
In addition to an anemic economy and a patchy telecommunications network, which makes dial-up connections frustratingly difficult, other challenges persist.
CONSIDER Juniper Networks, which makes telecommunications equipment.
Lucent, which makes telecommunications equipment, said it was negotiating with the agency to resolve the matter.
The CommScope Holding Company, which makes telecommunications equipment, fell as much as 1.9 percent in its trading debut on Friday.
Nokia Siemens, which makes telecommunications equipment, is a joint venture of Nokia of Finland and Siemens of Germany.
Nortel Networks, which makes telecommunications equipment, said its former chief executive, John Roth, would leave the company's board next month.
Tekelec, which makes telecommunications equipment, agreed to buy the closely held Steleus Group for $56 million, its second acquisition this year.
Tom Ahrens pinned his hope for a comfortable retirement in large part on Nortel Networks, which makes telecommunications equipment.
Tut Systems, which makes telecommunications equipment, said yesterday that it would cut 39percentt of its jobs and close a design center in Bridgewater, N.J., to save $5 million to $6 million a year.
