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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
 
THROUGH March 05, 2008

(Commission File No. 1-15256)
 
 
BRASIL TELECOM S.A.
(Exact name of Registrant as specified in its Charter)
 
BRAZIL TELECOM COMPANY
(Translation of Registrant's name into English)
 

SIA Sul, Área de Serviços Públicos, Lote D, Bloco B
Brasília, D.F., 71.215-000
Federative Republic of Brazil
(Address of Regristrant's principal executive offices)


Indicate by check mark whether the registrant files or will file
annual reports under cover 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)__.

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)__.

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, indicated below the file number assigned to the
registrant in connection with Rule 12g3-2(b):


  Investor Relations 
  (55 61) 3415-1140 
  ri@brasiltelecom.com.br 
  www.brasiltelecom.com.br/ri 
   
  Media Relations 
  (55 61) 3415-1378 
  cesarb@brasiltelecom.com.br 

Free Translation

BRASIL TELECOM S.A.    BRASIL TELECOM PARTICIPAÇÕES S.A. 
Publicly-held Company    Publicly-held Company 
Corporate Taxpayer’s ID (CNPJ/MF):    Corporate Taxpayer’s ID (CNPJ/MF): 
76.535.764/0001-43    02.570.688/0001-70 
Corporate Registry: 53 3 0000622-9    Corporate Registry: 53 3 0000581- 8 

Notice to Shareholders

Pursuant to the letter CVM/SEP/GEA-4/N° 44/08 of March 4, 2008, from the Brazilian Securities and Exchange Commission (Comissão de Valores Mobiliários - CVM), regarding the article in “Valor Online”, entitled “Negociações entre Oi e BrT continuam, diz Previ” (“Negotiation between Oi and BrT continues, says Previ”), Brasil Telecom Participações S.A. and Brasil Telecom S.A. (jointly, the “Companies”) clarify that:

(1) The Companies are not involved in any transactions related to the sale of shares in their shareholding structure by their controlling shareholders companies.
(2) The Companies have not entered into any agreement, be it final or preliminary, on the merger, purchase or sale with Oi/Telemar or with any other company or investment vehicle.

The Companies also announce that, due to the news regarding a possible transaction involving the acquisition of their control by Oi/Telemar, they remain informed by keeping in touch with Brasil Telecom’s controlling group (Solpart Participações S.A., Techold Participações S.A., Invitel S.A. and Zain Participações S.A., “Controlling Companies”). The controlling companies have repeatedly published clarification and they once again confirm as follows:

“The Controlling Companies reiterate that they have evaluated various strategic options for their shareholdings in the Companies.

The Controlling Companies would like to emphasize that, notwithstanding rumors to the contrary, and despite discussions in relation to this subject, they have not taken any decision regarding the corporate restructuring of the Companies, nor have they entered into any merger, acquisition or sale agreement, not even of a preliminary nature, with Oi/Telemar or with any other company or investment vehicle.

Furthermore, the Controlling Companies, once again clarify that, pursuant to the applicable legislation and regulations, shall promptly disclose any future material act or fact that has a bearing on this matter.”

Brasília, March 05, 2008.

Paulo Narcélio Simões Amaral
Investor Relations Officer
Brasil Telecom Participações S.A.
Brasil Telecom S.A.

Page 1 of 1

 
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: March 05, 2008

 
BRASIL TELECOM S.A.
By:
/S/ Paulo Narcélio Simões Amaral
 
Name:  Paulo Narcélio Simões Amaral
Title:     Chief Financial Officer
 

 

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.