Telebras and its regional subsidiaries were so inefficient that they spawned a vigorous secondary market for telephone lines.

telebras及其地区子公司效益不佳，以致于造就了活跃的固话线路二级市场。

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A recent proposal to revive telebras, the defunct state telecoms monopoly, to provide broadband Internet services to the poor, looks different.

但是近来重振telebras(目前停业的国有电信垄断企业)的提案却不太一样，其旨在向穷人提供宽带因特网服务。

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Many analysts reckon it was an overdue correction after some feverish buying, particularly of Telebras, the state-controlled telecoms holding company whose shares account for 45% of the Bovespa index.

ECONOMIST: Rational anxiety in Brazil

No wonder, then, that officials were so jubilant over last month's successful privatisation of Telebras, Brazil's telecoms network, and not just because it should give the country a decent telephone system.

ECONOMIST: Brazil

Mr da Silva, meanwhile, seems to have squandered his chance, railing against the Telebras privatisation and making populist spending promises rather than encroaching on the centre ground dominated by his opponent.

ECONOMIST: Brazil prepares for Cardoso without coat-tails