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Vivo, Algar, Vogel, GlobeNet interested in CEMIG Telecom takeover

4 Jul 2017

Five industry players are interested in acquiring Brazilian operator CEMIG Telecom from utility firm Companhia Energetica de Minas Gerais (CEMIG), Reuters reports, citing three people with direct knowledge of the sale process. The five interested parties have been named as Telefonica Brasil (Vivo); regional player Algar Telecom; Vogel Telecom, which was formed by Patria Investimentos in April 2015, following the merger of five regional fibre-optic operators, Avvio Telecom, Smart Brasil, SouthTech Telecom and Rede Otica Bahia; regional submarine cable operator GlobeNet Cabos Submarinos; and infrastructure funds managed by UBS. The sale – which is being managed by Banco Bradesco – could close as early as October, the sources added.

TeleGeography notes that the CEMIG Telecom currently serves the metropolitan region of Belo Horizonte (in Minas Gerais) and parts of four other states: Pernambuco, Ceara, Bahia and Goias. Local press reports have previously suggested that the telco is valued at around BRL193 million (USD59.1 million).

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