Brazil
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Brasil Telecom completes stake in iBest for US$36mn

Bnamericas Published: Tuesday, July 01, 2003
Brazilian fixed line operator Brasil Telecom announced in a statement Monday that it has paid US$36mn to buy the rest of the equity in local ISP and portal iBest. Prior to the acquisition Brasil Telecom held 49.5% of iBest. "With this transaction, Brasil Telecom reinforces its positioning in the Internet market, which is strategic for telecoms operators," the statement said. In Brazil as elsewhere, the Internet market represents an attractive opportunity for telcos to boost their traffic volume, and market broadband services to ISP subscribers. The acquisition was conducted through the operator's Internet subsidiary, Brasil Telecom Servicos de Internet. iBest was created in January 1999, and has today 4 million subscribers.

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