October
4 - PhoneBrasil
Finalizes Agreement to Acquire Office Building in Madrid, Spain
PhoneBrasil International, Inc. (OTC:PHBR) announced
Thursday that it has reached an agreement to acquire a 1,200 m2 (about
13,000 sq ft) office complex in Madrid, Spain. This agreement is for the
entire 3rd floor of the 25 story office building along with 7 parking
markets and one retail store on the first floor. The retail office will
be for PHBR and its Hybrid VOIP, cellular, Broadband and WIFI Technology.
The current valuation of this property is 8.120.000 Euros = $11.368.000
USD (see details below). Details of the transaction were not available
at this time.
The Company plans to occupy the 3th floor of the office
complex establishing it as its headquarters for Spain. The building also
has as a tenant Telindus-Belgian Com. The office complex is next to one
of the greater installations of Telefonica SA (NYSE:TEF) which is the
headquarters of their Department of Engineering and Systems.
"We now have physical facilities in Miami,
Florida; Brazil and Madrid, Spain," stated Anderson Diaz, President
of PhoneBrasil. "We now have the facilities to fully implement our
immediate business plan, which shows us to be a serious international
telecommunications company."
