The General Superintendence (Superintendencia-Geral, SG) of the Administrative Council for Economic Defence (Conselho Administrativo de Defesa Economica, CADE) has reportedly approved changes to the shareholder structure of UFINET Brasil. According to TeleTime, the transaction was submitted for review on 30 December 2021 and approved on 12 January 2022.
Post-transaction, private equity firm Cinven will hold 51.5% of UFINET Brasil’s capital, Italian energy group Enel will hold 19.5% and Platinum, which is owned by the Abu Dhabi Investment Authority (ADIA), will hold a 29% stake. Going forward, the deal is subject to approval from the National Telecommunications Agency (Agencia Nacional de Telecomunicacoes, Anatel).
TeleGeography notes that Spanish firm UFINET entered Brazil in 2019, via the takeover of Sao Paulo-based fibre operator Netell Telecom. More recently, in September 2021 UFINET announced the successful completion of its acquisition of Rio de Janeiro-based NB Telecom.