Brazil’s antitrust watchdog CADE has approved the takeover of broadband provider Nova Fibra by Ligga Telecom, formerly known as Copel Telecom.
The purchase is for 100% of shares Nova Fibra and the firm was valued in February at BRL500 million ($US97.8m), reported Tele Sintese.
The general superintendent of CADE stated although both companies cross share 20% of their footprint in four municipalities and over 50% in three others, there is little concern for the stifling of competition.
The areas where the two companies have a presence were found by CADE to not affect rivalries and successful new player entries in the last five years. Overall, Ligga Telecom will not become too dominant by acquiring Nova Fibra.
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