Copel Telecom sale planned for November; bidding to start at BRL1.4bn

18 Sep 2020

Parana-based state power company Companhia Paranaense de Energia (Copel) has confirmed that the delayed sale of Copel Telecomunicacoes will take place on 9 November this year, with bids starting at BRL1.401 billion (USD267.1 million). The sale will take place via the B3 stock exchange in Sao Paulo.

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.

Brazil, Copel Telecom