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Brazil's largest internet service provider, Universo Online (UOL), on Thursday (Dec 29) bought back 338mn reais (US$181mn) worth of its preferred shares at a delisting offer on local stock exchange Bovespa.
UOL repurchased 17.3mn out of 18.3mn outstanding preferred shares, equivalent to 15.3% of the company's total capital, the São Paulo-based exchange said.
UOL is a unit of Folhapar, which also controls the Folha de S Paulo newspaper.
By Vanessa Stecanella