The process to sell Brazilian regional telecoms operator Sercomtel will commence in February 2020, BNAmericas reports. An auction for the company’s shares will commence on 5 February, with the reserve price for the telco set at BRL130 million (USD32 million). The tender paperwork notes that there is a need to ‘restructure the company to provide increased investments, operational management improvements, expansion of customer service infrastructure, an increase in the quality of the services provided and, above all, improved economic-financial performance’.
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 ballot 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 minority shareholders.
In July 2019 minority shareholders Marcelo Kneese and Heber Wedemann, who run Dez de Dezembro Investimentos e Participacoes, withdrew a BRL120 million takeover offer, blaming unresolved issues concerning the telco’s complicated corporate structure.