Lifts 49 per cent ownership cap on foreign ownership of TV cable operators
12 Sep 2011
Brazil has approved a law lifting the 49 percent cap on foreign ownership of cable operators. The law furthermore entitles telecom operators to offer combined packages including voice, broadband and TV services. With the law, the Government expects to boost competition in the local market. The law will allow for Mexican-owned Latin American telecommunications giant América Móvil to expand its operations in the country. It already controls 49 percent of voting shares and a 92 percent financial stake in Brazil's largest pay-TV carrier. Under the new law, América Móvil will be able to exercise an option it has to take control of Net's voting shares.
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Type:
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Entry and establishment (Ownership and control)
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Industry:
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Services (Telecommunications)
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Sources:
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Official Gazette, No.176, Law No. 12485, 13 Sep 2011
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Business News Americas, President approves law allowing telecoms operators to enter pay-TV market, 13 Sep 2011
