Blue Interactive completes acquisitions of Minas Cabo & Brasil Telecomunicações
Brazil’s largest independent cable TV operator Blue Interactive Group (“Blue” or “the company”) has successfully completed the acquisitions of Minas Cabo and Brasil Telecomunicações.
The purchase of the two regional cable TV providers will deepen Blue’s presence in the wealthy state of Minas Gerais, adding 7 new cities, 1,400kms of network and nearly 40,000 subscribers. The combined business will have in excess 150,000 subscribers, representing growth of over 60% since 3i’s R$100m investment in July 2012.
The company also recently launched operations in four new greenfield cities, expanding a total 11 cities in 2013 and adding to Blue’s growing footprint of 25 cities across nine states.
Blue is also building additional network in its existing cities and should reach over 4,200kms of coverage by the end of 2013, more than double its network a year ago.
“We are enjoying unprecedented growth this year and will more than double our network through our latest acquisitions and organic expansion,” says Silvia de Jesus, President of Blue Interactive. “We are focused on mid-sized cities where there is strong demand for our quality products and services in the run up to the World Cup.”
“Brazil represents a fantastic growth opportunity as only 8.3% of Brazil’s municipalities enjoy cable TV access and just 52% of the population has internet,” said Marcelo Di Lorenzo, Managing Director and Head of 3i Brazil. 3i is a significant minority shareholder in Blue.
Over the past 15 months, the company has also digitalised its operations, rolled out premium TV content to nearly all its subscriber base and substantially increased broadband speeds to residential customers to 100Mb.
In addition, Blue has started transitioning to its new brand in a number of its key markets together with the introduction of telecoms services, providing clients with a complete product offering.
Blue Interactive continues to evaluate potential growth options, including acquisitions and additional network build-out.
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For further information, contact:
3i Group plc
Laurie Yeh
Tel: +44 20 7975 3126
Email: laurie.yeh@3i.com
For Brazil Enquiries
PR Consulting Brasil
Anthony Dovkants
Tel: +55 11 3078 0855
Email: anthony@prconsultingbrasil.com
Notes to editors
About 3i Group plc
3i is a leading international investor focused on mid-market private equity, infrastructure and debt management across Europe, Asia and the Americas. For further information, please visit: www.3i.com.
About Blue
Blue Interactive Group was formed in 2009 by a group of senior executives from the technology and telecommunications sector to serve as an acquisition platform in the rapidly growing pay TV and broadband market in Brazil. Blue is currently present in 9 Brazilian states and 25 cities. Led by experienced executives in the sector, Blue seeks to continue to grow both organically and through acquisition.