Bordeaux Fundo de Investimento em Participacoes Multiestrategia (Bordeaux Multi-Strategic Investment Fund) has been named as the winning bidder for Copel Telecom, following an 18-round auction which was staged via the B3 stock exchange in Sao Paulo. Parana-based state power company Companhia Paranaense de Energia (Copel) has confirmed that the final bidding price reached BRL2.395 billion (USD447.1 million), noting that this price represented a 70.94% premium on the BRL1.401 million minimum bid stipulation.
According to TeleTime, the Bordeaux Investment Fund is controlled by businessman Nelson Tanure and former minister Helio Costa. In winning the auction, the fund faced stiff competition from Algar Telecom, which reportedly offered BRL2.204 billion for the telco.
As previously reported by TeleGeography’s CommsUpdate, in August this year the Bordeaux Fund was named as the winning bidder following the privatisation auction for another regional operator, Sercomtel Telecomunicacoes. That auction involved an upfront fee of BRL50 million (USD9.1 million) alongside an additional BRL80 million commitment.