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Brasil Telecom buys MetroRed, Vant for US$56mn

Bnamericas Published: Friday, May 14, 2004
Brazilian telecoms operator Brasil Telecom Participações (NYSE: BRP) has completed the acquisition of local operators MetroRed and Vant for US$56mn, Brasil Telecom said on Thursday. "The acquisition of MetroRed and Vant has a fundamental role in Brazil Telecom's strategy for expansion beyond [its concession area] Region 2," company chief executive Carla Cico said in the statement. Brasil Telecom paid US$51mn to buy 80.1% of the MTH do Brasil, a holding company which owns 99.9% of MetroRed, from Aescom Sul. It paid a further 15.6mn reais (US$4.98mn) to buy 80.1% of Vant Telecomunicações from Aescom Sul. Telecoms regulator Anatel has approved the deal, which was first announced in January. MetroRed was established in Brazil in August 1997 and has 343km of local network in São Paulo, Rio de Janeiro and Belo Horizonte and a 1485km long distance network connecting these major metropolitan business centers. MetroRed also has a data center in São Paulo. Vant was founded in 1999 and provides corporate network services based on internet protocol technology. Vant does business throughout Brazil, offering an extensive portfolio of voice and data products.

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