Net Serviços completes stage one of Vivax acquisition

8 Dec 2006

Brazilian pay TV operator Net Serviços has finalised the first part of its purchase of a controlling stake in rival operator Vivax, writes BNamericas citing a company statement. Net purchased a 36.7% stake in Vivax from Horizon Telecom International, having announced in October that it was looking to take a controlling stake in the company. In phase two, Net will look to buy shares in its cable rival from majority shareholder Fernando Norbert. It is in talks about such a deal which if completed, will give Net control of the CATV provider, subject to the deal being approved by the regulator Anatel. Net is looking to gain access to the highly populated and potentially lucrative state of São Paulo, where Vivax has concession licenses for 34 cities and is the sole CATV operator in 32 of them.