FiBrasil linked with BRL2.8bn Vero Internet takeover

1 Aug 2022

FiBrasil Infraestrutura e Fibra Otica (FiBrasil), the infrastructure company co-owned by Telefonica and Canadian investment firm Caisse de depot et placement du Quebec (CDPQ), is said to be exploring a BRL2.8 billion (USD541 million) takeover of regional ISP Vero Internet. According to Estadao negotiations are at an advanced stage, although other industry sources have indicated that the mooted price is unreasonably high.

According to TeleGeography’s GlobalComms Database, Vero Internet was created by Vinci Partners – an alternative investment platform specialising in asset management – back in January 2019. In August 2021 the company submitted an initial public offering (IPO) request to the Securities and Exchange Commission of Brazil (Comissao de Valores Mobiliarios, CVM), only to withdraw from the process in January 2022.

Brazil, FiBrasil, Vero Internet