Copel Telecom sale to resume later this year

19 May 2020

The planned sale of Copel Telecomunicacoes (Copel Telecom) is expected to resume later this year, the president of state power company Companhia Paranaense de Energia (Copel) has revealed. Daniel Slaviero has been quoted as saying: ‘The expectation is to hold the auction by the end of the year, if market conditions permit … We took significant steps this week. If it wasn’t for the COVID-19 crisis, we would certainly be making the final approvals for this process already.’

As previously reported by TeleGeography’s CommsUpdate, the sale process was halted in January 2020, after the Parana engineers’ union filed an injunction because the divestment contract was assigned to Rothschild in July 2019 without a formal bidding process. However, the injunction was overturned by the Superior Court of Justice (Superior Tribunal de Justica, STJ) the following month. When it resumes, the sale is expected to generate around BRL1 billion (USD173.4 million) for the energy firm.

Brazil, Copel Telecom