Brazilian telecoms regulator Anatel has approved Embratel’s acquisition of a controlling stake in cable TV and internet provider Net Servicos de Comunicacao (Net).
Embratel is a subsidiary of Mexico-based telecoms giant America Movil.
In a statement,…
Brazilian telecoms regulator Anatel has approved Embratel’s acquisition of a controlling stake in cable TV and internet provider Net Servicos de Comunicacao (Net).
Embratel is a subsidiary of Mexico-based telecoms giant America Movil.
In a statement, America Movil said that following the authorisation by Anatel, the holding company Embratel Participacoes will be in a position to exercise its option to acquire the controlling shares of Net from Globo Comunicacao e Participacoes.
America Movil added that once this option had been exercised, Embratel Participacoes and its affiliates would control Net.
Through a subsidiary, Globo currently holds a 51% voting stake in Net.
Embratel said in January that Net had a 41.5% share of the Brazilian cable TV market and a 25.4% share of the broadband market.
Embratel Participacoes controls Embratel, which provides voice, data, internet and TV services.
