UNIFON Commercial Societe Anonyme of Information and Telecommunication Products and Services, announces that the Competition Committee at the meeting which was held on 8/3/2001 approved the absorption of Unifon S.A. from PANAFON S.A. which was decided by the Board of Directors of both companies at their meetings on 25/10/2000. The above merger is subject to approval from the shareholder general assembly and from legal and regulatory authorities.