Telefonica snaps up 49% stake in Brazilian cable operator TVA

3 Oct 2011

Spanish giant Telefonica has purchased a 49% stake in Brazilian cable TV operator TVA, via its local subsidiary Telefonica Brazil (Telesp). It is understood Telefonica purchased the shares from Lemontree, which prior to the deal owned 80.1% of TVA’s shares. The latest transaction concludes an acquisition process that began back in 2007 when Telefonica bought up TVA’s MMDS operation in the country.

Brazil, Telefonica, TVA Sistema de Televisao (TVA)