MHNET seals another triple takeover; mulls future IPO

3 Aug 2021

Brazilian regional operator MHNET Telecom has reportedly completed the acquisition of three smaller ISPs, namely: Qnet Telecom, Toledonet and Zuknet Networks. According to TeleSintese, the three deals concluded on 1 August and included more than 54,000 customers in 22 municipalities, adding a further 1,500km of fibre to MHNET’s network footprint. The report quotes Patrick Canton, CEO of MHNET, as saying: ‘Our plans for the company in the coming years [include] the attraction of investors through an IPO. This follows strong consolidation between regional providers in the country.’

TeleGeography notes that this series of deals represents the telco’s second triple-takeover in quick succession. Last month, MHNET completed the acquisition of three smaller Parana-based ISPs, namely Optinet, Frosinet and GW Telecom. In total, MHNET has acquired eleven companies since the beginning of 2020.

TeleGeography notes that MHNET currently offers fibre-optic connectivity in Santa Catarina, Rio Grande do Sul, Mato Grosso do Sul and Parana. Its network currently spans 25,000km and serves more than 100 cities. According to the National Telecommunications Agency (Agencia Nacional de Telecomunicacoes, Anatel), MHNET accounted for a total of 175,458 broadband customers as of 30 June 2021.

Brazil, MHNET Telecom