Algar buys 85% to 100% of Vogel Telecom for $109 mm

The operator Algar Telecom signed a contract to purchase 85.2% to 100% of the capital of Vogel Telecom, for R$ 600 million ($109 mm), according to a material fact sent to the Brazilian Securities Commission (CVM). The deal is subject to the normal conditions precedent in this kind of operation, including the authorizations by the Economic Defense Administrative Council (Cade) and the National Telecommunications Agency (Anatel).

Source: Valor Investe