Wipeout! Surf Telecom seeks buyer for Plintron stake

1 Jun 2022

Brazilian mobile virtual network enabler (MVNE) Surf Telecom has reportedly hired Banco Santander to find a buyer for the 40% ownership stake in the company that is held by Plintron do Brasil, the local subsidiary of Singapore-based mobile virtual network aggregator (MVNA) Plintron.

Sources close to the deal told Tele.Sintese that the stake sale has been prompted by a legal dispute between Plintron and CEO Yon Moreira, who retains majority control over the company. Plintron, the report notes, believed that it was able to increase its stake by a further 20% in 2020, but Mr Moreira and his partners were not willing to cede control of the company.

TeleGeography notes that Plintron was publicly unveiled as Surf Telecom’s strategic partner back in May 2017, although the tie-up is understood to date back to 2016.

Brazil, EUTV (Surf Telecom), Plintron