Brazilian telecoms group Embratel Participacoes, controlled by Mexican billionaire Carlos Slim through America Movil (AM), plans to buy out the minority shareholders of domestic cable TV and internet provider Net Servicos de Comunicacao. It is understood Embratel, which holds 92.2% of Net’s stock, is readying a plan to offer BRL26.64 (USD13.17) per share for each share it does not already own.
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OVETEL Mexico’s Carlos Slim moves in for remaining Net shares
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