UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20594
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Nortel Inversora S.A.
(Name of Issuer)
American Depositary Shares representing Series B Preferred Shares
(Title of Class of Securities)
656567401
(CUSIP Number)
Check the following box if a fee is being paid with this statement [ ]. (A
fee is not required only if the filing person: (1) has a previous statement
on file reporting beneficial ownership of more than five percent of the
class of securities described in Item 1: and (2) has filed no amendment
subsequent thereto reporting beneficial ownership of five percent or less
of such class.) (See Rule 13d-7).
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of the
Act (however, see the Notes).
<PAGE>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Capital Group International, Inc.
95-4154357
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
(b)
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
California
5 SOLE VOTING POWER
1,779,160
6 SHARED VOTING POWER
NUMBER OF
SHARES
NONE
BENEFICIALL
Y OWNED BY
7 SOLE DISPOSITIVE POWER
EACH
REPORTING
1,779,160
PERSON WITH
8 SHARED DISPOSITIVE POWER
NONE
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,779,160 Beneficial ownership disclaimed pursuant to Rule 13d-4
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.1%
12 TYPE OF REPORTING PERSON*
HC
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Capital International, Inc.
95-4154361
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
(b)
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
California
5 SOLE VOTING POWER
NONE
6 SHARED VOTING POWER
NUMBER OF
SHARES
NONE
BENEFICIALL
Y OWNED BY
7 SOLE DISPOSITIVE POWER
EACH
REPORTING
1,779,160
PERSON WITH
8 SHARED DISPOSITIVE POWER
NONE
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,779,160 Beneficial ownership disclaimed pursuant to Rule 13d-4
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.1%
12 TYPE OF REPORTING PERSON*
IA
*SEE INSTRUCTION BEFORE FILLING OUT!
CUSIP: 656567401 Page 3 of 8
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Emerging Markets Growth Fund, Inc.
95-4026510
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
(b)
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
5 SOLE VOTING POWER
1,630,740
6 SHARED VOTING POWER
NUMBER OF
SHARES
NONE
BENEFICIALL
Y OWNED BY
7 SOLE DISPOSITIVE POWER
EACH
REPORTING
NONE
PERSON WITH
8 SHARED DISPOSITIVE POWER
NONE
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,630,740
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.5%
12 TYPE OF REPORTING PERSON*
IV
*SEE INSTRUCTION BEFORE FILLING OUT
<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Schedule 13G
Under the Securities Exchange Act of 1934
Amendment No. 1
Item 1(a) Name of Issuer:
Nortel Inversora S.A.
Item 1(b) Address of Issuer's Principal Executive Offices:
Alicia Moreau de Justo 50
Piso 11
1107 - Buenos Aires
Argentina
Item 2(a) Name of Person(s) Filing:
Capital Group International, Inc., Capital International, Inc. and
Emerging Markets Growth Fund, Inc.
Item 2(b) Address of Principal Business Office:
11100 Santa Monica Blvd.
Los Angeles, CA 90025
Item 2(c) Citizenship: N/A
Item 2(d) Title of Class of Securities:
American Depositary Shares representing Series B Preferred Shares
Item 2(e) CUSIP Number:
656567401
Item 3 The person(s) filing is(are):
(d) [X] Investment Company registered under Section 8 of the
Investment Company Act.
(e) [X] Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940.
(g) [X] Parent Holding Company in accordance with Section
240.13d-1(b)(1)(ii)(G).
Item 4 Ownership
<PAGE>
Capital Group International, Inc. is the parent holding company of
a group of investment management companies that hold investment
power and, in some cases, voting power over the securities reported
in this Schedule 13G. The investment management companies, which
include a "bank" as defined in Section 3(a)6 of the Securities
Exchange Act of 1934 (the "Act") and several investment advisers
registered under Section 203 of the Investment Advisers Act of
1940, provide investment advisory and management services for their
respective clients which include registered investment companies
and institutional accounts. Capital Group International, Inc. does
not have investment power or voting power over any of the
securities reported herein; however, Capital Group International,
Inc. may be deemed to "beneficially own" such securities by virtue
of Rule 13d-3 under the Act.
Capital International, Inc., an investment adviser registered under
Section 203 of the Investment Advisers Act of 1940 is deemed to be
the beneficial owner of 1,779,160 shares or 6.1% of the 29,409,000
Series B Preferred Shares believed to be outstanding as a result of
acting as investment adviser to various investment companies and
institutional accounts.
Emerging Markets Growth Fund, Inc. , an investment company
registered under the Investment Company Act of 1940, which is
advised by Capital International, Inc., is the beneficial owner of
1,630,740 shares or 5.5% of the 29,409,000 Series B Preferred
Shares believed to be outstanding.
All of the shares reported are held in the form of American
Depositary Shares, which each represent 1/20th of a Series B
Preferred Share.
Item 5 Ownership of 5% or Less of a Class: [ ]
Item 6 Ownership of More than 5% on Behalf of Another Person: N/A
Item 7 Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company
1.
Capital International Research and Management, Inc. dba Capital
International, Inc. is an investment adviser registered under
Section 203 of the Investment Advisers Act of 1940 and is a
wholly owned subsidiary of Capital Group International, Inc.
2.
Capital International, Inc. serves as investment adviser to
Emerging Markets Growth Fund, Inc., an investment company
registered under the Investment Company Act of 1940.
Item 8 Identification and Classification of Members of the Group: N/A
Item 9 Notice of Dissolution of the Group: N/A
Item 10 Certification
CUSIP: 656567401 Page 6 of 8
By signing below, I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose
of and do not have the effect of changing or influencing the
control of the issuer of such securities and were not acquired in
connection with or as a participant in any transaction having such
purpose or effect.
Signature
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement
is true, complete and correct.
Date: February 10, 2000 (For the period ended
December 31, 1999)
Signature: *David I. Fisher
Name/Title: David I. Fisher, Chairman
Capital Group International, Inc.
Date: February 10, 2000 (For the period ended
December 31, 1999)
Signature: *David I. Fisher
Name/Title: David I. Fisher, Vice Chairman
Capital International, Inc.
Date: February 10, 2000 (For the period ended
December 31, 1999)
Signature: *David I. Fisher
Name/Title: David I. Fisher, Vice Chairman
Emerging Markets Growth Fund, Inc.
*By
Michael J. Downer
Attorney-in-fact
Signed pursuant to a Power of Attorney dated January 29,
1999 included as an Exhibit to Schedule 13G filed with the
Securities and Exchange Commission by Capital Group
International, Inc. on February 10, 2000 with respect to
Acclaim Entertainment, Inc.
CUSIP: 656567401 Page 7 of 8
AGREEMENT
Los Angeles, CA
February 10, 2000
Capital Group International, Inc. ("CGII"), Capital International, Inc.
("CII"), Emerging Markets Growth Fund, Inc. ("EMGF") hereby agree to file
a joint statement on Schedule 13G under the Securities Exchange Act of 1934
(the "Act") in connection with their beneficial ownership of American
Depositary Shares representing Series B Preferred Shares issued by Nortel
Inversora S.A.
CGII, CII, EMGF state that they are each entitled to individually use
Schedule 13G pursuant to Rule 13d-1(c) of the Act.
CGII, CII, EMGF are each responsible for the timely filing of the
statement and any amendments thereto, and for the completeness and accuracy
of the information concerning each of them contained therein but are not
responsible for the completeness or accuracy of the information concerning
the others.
CAPITAL GROUP INTERNATIONAL, INC.
BY: *David I. Fisher
David I. Fisher, Chairman
Capital Group International,
Inc.
CAPITAL INTERNATIONAL, INC.
BY: *David I. Fisher
David I. Fisher, Vice Chairman
Capital International, Inc.
EMERGING MARKETS GROWTH FUND, INC.
BY: *David I. Fisher
David I. Fisher, Vice Chairman
Emerging Markets Growth Fund,
Inc.
*By
Michael J. Downer
Attorney-in-fact
Signed pursuant to a Power of Attorney dated January 29, 1999 included
as an Exhibit to Schedule 13G filed with the Securities and Exchange
Commission by Capital Group International, Inc. on February 10, 2000
with respect to Acclaim Entertainment, Inc
