Way Brasil auction attracts Net, Oi

27 Jul 2006

The forthcoming auction of Brazilian cable and internet services provider Way Brasil has attracted the interest of local pay-TV firm Net and mobile network operator Oi, according to BNamericas citing the Valor Online news source. The pair are understood to have submitted tender documents for the company and deposited the requisite guarantee of BRL8 million (USD3.6 million) – equivalent to 10% of the minimum bid. Net is part of the Telmex group and Oi is owned by Brazil’s largest fixed line operator Telemar.

Way Brazil launched operations in 2000 and holds licences from Anatel to provide cable TV and broadband internet services to Belo Horizonte, Poços de Caldas, Uberlândia and Barbacena in Minas Gerais state. The company had 43,900 pay-TV customers and 43,500 broadband subscribers at the end of May 2006. It reported a profit of BRL110,000 in 1Q 2006 compared to a loss of BRL804,000 in the same period a year ago.

Brazil, Oi