Vivo shareholders approve Telemig acquisition (Brazil)The shareholders of Brazilian mobile operator Vivo Participações have approved the acquisition of shares of the Telpart holding which will give Vivo the shareholding control of mobile operators Telemig and Amazônia Celular, for BRL 1.21 billion, a deal signed on 2 August. However, the transaction still depends on the approval of Brazilian telecom regulator Anatel to be realized. The shareholders which have papers with voting rights of Vivo, but were contrary to the transaction, will be able sell their shares for BRL 5.74 each. The right of recess can be exercised by the shareholders if they should so choose between 24 August and 24 September. Vivo has agreed the purchase of 22.7 percent of the capital of Telemig Celular Participações for BRL 1.093 billion and 19.3 percent of Tele Norte Participações for BRL 120 million. Vivo will then make an offer for the ordinary shares circulating on the market and then for one third of the preferential shares, thus becoming the majority shareholder in both companies.
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