August 8, 2018 / 2:51 PM / 3 months ago

American Tower, Algar buy telecom assets of Brazil's Cemig

SAO PAULO, Aug 8 (Reuters) - American Tower Corp and local telecommunications company Algar Telecom SA purchased on Wednesday the broadband network of state-run utility Companhia Energetica de Minas Gerais SA, commonly known as Cemig.

At an auction in Cemig’s headquarters in the interior state of Minas Gerais, American Tower won Lot 1 of the network with a 571 million reais ($152 million) bid, while Algar won the smaller Lot 2 with a 78 million reais bid.

$1 = 3.75 reais Reporting by Luciano Costa; Writing by Gram Slattery

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below