Copel hires Rothschild to sell telecoms business

15 Jul 2019

In a notice to the market dated 11 July, Parana-based state power company Companhia Paranaense de Energia (Copel) has confirmed that it has hired Banco Rothschild and law firm Cescon Barrieu to negotiate the sale of its Copel Telecomunicacoes business. The notice adds: ‘The company will keep its shareholders and the market in general informed about the progress of the activities, in accordance with the applicable legislation and regulations.’

According to TeleGeography’s GlobalComms Database, Copel Telecom is 100% owned by Copel, which is itself majority-owned by the State of Parana. In February 2018 reports emerged linking TIM Participacoes (TIM Brasil) with a BRL1 billion (USD259.1 million) takeover of Copel Telecom, although no deal ever materialised.

Brazil, Copel Telecom