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Cemig Telecom of Brazil Sells at US $100 million or More

The Energy Company of Minas Gerais announced this week information about the sale of Brazil’s Cemig Telecom, which will be made available in two parts that will equal a minimum of $100 million USD.

Companies with SCM licenses, including investment funds or consortiums, may participate in the contest, but the presence of consortiums of large operators whose annual turnover exceeds US$ 137 million will not be allowed. The final result of the contest will be announced on July 27.

An SCM license is one that enables the owner to provide telecommunications services. For example, when SCM licenses became available, even ISPs began to secure their own SCM license which automatically made them telecom operators which in the past had only been available to PSTN providers.

So in the case of the sale of Cemig Telecom, July 27th is the magic day.

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