Embratel exercises option to take control of the Net

17 February 2012 | In News | 184 views | By

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Embratel reported on Friday to have exercised its option to purchase the control indireto da prestadora da operadora de telephony fixa, pay TV and broadband Net Services.

embratel logoAccording to information submitted to the Securities and Exchange Commission (CVM), Embratel notified the Globe communication and Participation (Globopar) about Office of purchasing 5,5 percent of the voting capital of GB Empreendimentos e Participações, Net controller.

This slice corresponds to 1.077.520 shares of GB, who owns 51 percent of the voting capital of Net.

“Once formalized the transfer of the shares object of option, Embrapar, together with its subsidiary… Embratel, will hold direct control of GB and, Therefore, the indirect control of Net”, second fact.

Embratel is controlled by Mexican América Móvil, billionaire Carlos Slim, by Telmex. The company also controls Mexican mobile operator Claro.

Currently, the Globe has 51 percent of GB, While Telmex has 49 per cent, According to the website of Net.

Expected movement

It was widely expected by the market to purchase control of the Net after approval in the Senate, and subsequent ratification by the Presidency, the Bill 116 (PL 116), at the beginning of the second half of last year.

The law, It deals mainly with the pay TV segment, regulates the participation of foreigners in the capital of companies distribution of content.

Embratel had asked in October to the national agency of Telecommunications (Anatel) aval to take control of the Net and subsequent understandings with Globopar.

But Slim firms in Brazil had already announced, also in October, combined package services, kicking off this Union between group companies in the country.

With info information .br

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