SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20459

December 10, 2002

Indicate by check mark whether the registrant files or will file

annual reports under cover of Form 20-F or Form 40-F:

Form 20-F [x ] Form 40-F[_]

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]

If "Yes" is marked, indicate below the file number assigned to the registrant

in connection with Rule 12g3-2(b): N/A

TABLE OF CONTENTS

Item

In accordance with the provisions of article 82 of Law 24/1988 dated July 28^th, on the Securities Market and ancillary regulations, we hereby inform, that on December 4, 2002, the Brazilian National Telecommunications Agency (ANATEL) authorized the migration to Personal Mobile Service (SMP) of the Telefonica Moviles Group's Brazilian operators.

In addition, ANATEL authorized the transfer by the Telefonica Moviles Group and by the Portugal Telecom Group of their interests in their Brazilian cellular subsidiaries to the Joint Venture incorporated by both groups in accordance with the agreements executed on October 17, 2002, the execution of which was communicated to the Market.

As a consequence of the aforesaid authorisation by ANATEL, the teams of both of the Telefonica Moviles Group and of the Portugal Telecom Group are currently working in order to attempt to consummate the contribution of their Brazilian assets to the Joint Venture before the end of the fiscal year 2002.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: December 10, 2002