Embratel boss says no definitive date to take control of Net Servicos

6 Oct 2011

Bloomberg writes that Embratel Participacoes’s chief executive officer Jose Formoso Martinez says the Brazilian telco has not set a definitive time frame for the planned takeover of local cable TV, telephony and broadband provider Net Servicos de Comunicacao (Net). Last month Brazil’s president Dilma Rousseff approved new telecoms legislation removing restrictions on foreign ownership in domestic cable TV providers, and it is understood that whilst Embratel is keen to assess its options vis a vis Net, no date for takeover talks has been set.

In a separate development, Embratel, Claro and Net, all owned by Mexican billionaire Carlos Slim, have announced plans to launch a range of combined services. It is believed the prices of the new monthly packages will range from BRL399.90 to BRL699.90 (USD215.70 to USD377.50) and include pay-TV in HD, VOD, fixed and mobile broadband, as well as fixed and mobile telephony. The bundled offers will be rolled out on a commercial basis on 15 October and promise savings of up to 30%, compared with the same products if purchased separately.