Brazilian regional electricity utility Cemig is looking to sell a stake worth R$1bn in its broadband unit to private equity firm GP Investments and other suitors, according to multiple reports.
Cemig and GP Investments were not immediately available for…
Brazilian regional electricity utility Cemig is looking to sell a stake worth R$1bn in its broadband unit to private equity firm GP Investments and other suitors, according to multiple reports.
Cemig and GP Investments were not immediately available for comment.
Cemig was cited saying that to date it has not entered into any agreement involving Cemig Telecom.
Set up in 1999, the Belo Horizonte-based operator owns telecoms in the states of Minas Gerais, Bahia, Ceara, Goias and Pernambuco.
The move would echo a trend in Europe of private equity and trade players lining up to acquire the fibre networks of utility and railroad groups, as part of national buy and build strategies.
