Algar Telecom hires banks for IPO

27 Sep 2017

Brazilian regional operator Algar Telecom has hired banks to advise it on a possible initial public offering (IPO) Reuters reports, citing a securities filing submitted earlier this week. The financial institutions have not yet been named however, and Algar has not provided a timetable for the share sale.

TeleGeography notes that Uberlandia-based Algar Telecom is currently owned by the Algar Group, a family-controlled firm which also has interests in the agribusiness, services and tourism sectors.

Brazil, Algar Telecom