Desktop buys remaining 30% of Fasternet for R$98M

What's the deal? DesktopDealroom has a profile for this one. Try Dealroom → announced on August 25 an agreement to acquire the remaining 30% minority stake in internet provider FasternetDealroom has a profile for this one. Try Dealroom →. The deal, formalised through its subsidiary Desktop InternetDealroom has a profile for this one. Try Dealroom →, involves a single payment of R$98 million.

Why now? Desktop already controlled 70% of Fasternet. Buying the outstanding shares makes it the sole owner, letting it fully consolidate Fasternet's results and management.

What's the endgame? Desktop said the share transfer should close within 15 days of signing. Once the deal completes, Fasternet's current shareholders' agreement will terminate automatically.

The signal: Full ownership tightens Desktop's grip on a business it already ran, a common move among internet providers seeking scale and simpler control.

Read more: valor.globo.com

Image credit: sparr0