Brazilian regional operator Algar Telecom announced an agreement to purchase Vogel Telecom for up to BRL 600 million. With the acquisition, made through its subsidiary Algar Solucoes em TIC, the company will expand its network to more than 110,000 km of fibre optics and 3,400 corporate clients.
The transaction foresees the acquisition of at least 85.2 percent of the company's capital stock. It still requires regulatory clearance before the takeover can be completed.
Vogel offers high-capacity connectivity services, focusing on companies and the wholesale segment, with a presence in 150 cities and a network of about 27,000 km of fibre. The acquisition offers operational synergies and will help Algar expand to new areas and an expanded audience for its business services.
