Sercomtel minority shareholders withdraw takeover offer

30 Jul 2019

Minority shareholders at Brazilian regional telecoms operator Sercomtel have withdrawn a BRL120 million (USD31.7 million) takeover offer, Folha de Londrina has reported, although said investors have not ruled out a future approach for the telco. The withdrawal relates to unresolved issues concerning the telco’s complicated corporate structure. The shareholders in question are understood to be Marcelo Kneese and Heber Wedemann, who run Dez de Dezembro Investimentos e Participacoes.

As previously reported by TeleGeography’s CommsUpdate, in May 2019 the City Council of Londrina – which holds a 50.88% stake in the telco – voted to privatise Sercomtel after an 18-1 vote in favour of the proposal. Regional power company Companhia Paranaense de Energia (Copel) holds a 45.00% stake in the operator, with the remaining 4.12% distributed between unnamed shareholders.

Brazil, Sercomtel