SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of December, 2006
Commission File Number: 001-14475
TELESP HOLDING COMPANY
(Translation of registrant's name into English)
Rua Martiniano de Carvalho, 851 - 21 andar
São Paulo, S.P.
Federative Republic of Brazil
(Address of principal executive office)
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 if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes No x
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes No x
Indicate by check mark whether by furnishing the information contained in this Form, the Registrant 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
TELESP HOLDING COMPANY
TABLE OF CONTENTS
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| 1. | Press Release entitled "Telecomunicações de São Paulo S.A. - Telesp - Announces the Payment of Interests on the Company's Net Worth" dated on December 18, 2006. |
TELECOMUNICAÇÕES DE SÃO PAULO S.A. - TELESP
Announces the Payment of Interests on the Company’s Net Worth
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December 18, 2006 (01 page) For more information, contact: Daniel de Andrade Gomes TELESP, São Paulo - Brazil Tel.: (55-11) 3549-7200 Fax: (55-11) 3549-7202 E-mail: dgomes@telefonica.com.br URL: www.telefonica.com.br |
(São Paulo – Brazil; December 18, 2006) – The Management of Telecomunicações de São Paulo S. A. – Telesp (NYSE: TSP; BOVESPA: TLPP) announces the payment of Interests on the Company’s Net Worth.
In accordance with the resolutions taken by the Board of Directors at the Meeting held on December 18, 2006, ad referendum of the General Shareholders’ Meeting, Telecomunicações de São Paulo S.A. –Telesp hereby informs its shareholders about the payment of Interest on the Company’s Net Worth in accordance with the article 29 of the Company’s Bylaws, with the article 9 of the Law #9249/95 and Instruction #207/96 of the Comissão de Valores Mobiliários. The total amount is R$120,000,000.00 (one hundred twenty million reais) and after withholding the income tax of 15%, its net amount is R$102,000,000.00 (one hundred and two million reais), according to the table below:
| Immune or | Taxed Legal Entities | |||||
| Amount per share: R$ | Exempt Legal | Withholding tax (15%) | and Individuals (net | |||
| Entities (gross | value) | |||||
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| Common Shares | 0.222401502585 | 0.033360225387 | 0.189041277198 | |||
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| Preferred Shares(*) | 0.244641652844 | 0.036696247926 | 0.207945404918 | |||
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(*) 10% higher than the amount granted to each common share, in accordance with article 7 of the Company’s bylaws.
The corresponding credit will be made in the Company’s accounting records on December 28, 2006, on an individual basis for each shareholder, based on the positions in the shareholder registry book by the end of the day, on December 28, 2006. Starting on December 29, 2006, the shares will be considered as “ex-Interest on the Company’s Net Worth”. The payment will be made in a date to be determined by the General Shareholders’ Meeting.
In accordance with the single paragraph of the article 29 of the Company’s bylaws, said Interest on the Company’s Net Worth may be charged to the mandatory minimum dividend for the fiscal year 2006.
The Immune or Exempt Legal Entities, according to the current legislation, must provide proof of such condition until January 09, 2006 to the Gerenciamento de Ações Escriturais of Banco ABN AMRO Real S.A. (Banco Real), the depositary bank, located at Av. Brigadeiro Luis Antonio, 1827 - 8. andar - Bloco B - CEP - 01317-002 - Bela Vista - São Paulo - SP.
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.
| TELESP HOLDING COMPANY | ||||||
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Date: |
December 18, 2006 |
By: |
/s/ Daniel de Andrade Gomes | |||
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Name: |
Daniel de Andrade Gomes | |||||
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Title: |
Investor Relations Director | |||||