Cemig offloads telecommunication assets

Cemig offloads telecommunication assets

M&A Corporate & Sovereign Strategy Brazil

US operator of wireless and broadcast real estate American Tower bid above the asking price to snatch the larger of two lots of Cemig’s fiber optic assets for BRL571m ($151.4m), 70.41% above the minimum sale value specified in the tender. Brazil’s Algar Telecom bought the smaller lot for BRL77.89m, 139.86% above the minimum sale value set by the energy company. America Movil and other domestic players in the telecom space had indicated interest in the assets but did not bid. “Lot 1” gives Americ

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