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VIV - Telefonica Brasil SA News Story

$7.98 0.2  2.7%

Last Trade - 05/03/21

Sector
Telecoms
Size
Large Cap
Market Cap £13.02bn
Enterprise Value £13.97bn
Revenue £5.48bn
Position in Universe 617th / 6651

Brazil's Telefonica sells cyber security firm for $20 million

Tue 3rd November, 2020 11:03am
SAO PAULO, Nov 3 (Reuters) - Brazil's telecom services
provider Telefonica Brasil SA  VIVT4.SA  has sold its 100% stake
in cyber-security firm Telefônica Cibersegurança e Tecnologia do
Brasil (CyberCo Brasil) to another company within the group,
according to a securities filing on Tuesday.
    The sale value was 116.4 million reais ($20.27 million) and
the buyer of the stake was Telefónica Cybersecurity Tech, which
is indirectly controlled by Spain's Telefónica SA  TEF.MC , the
filing said.
    As part of the deal, certain assets, contracts and staff had
to be transferred from Telefonica Brasil to CyberCo Brasil, the
seller said. 
    
 ($1 = 5.7425 reais)

 (Reporting by Ana Mano, editing by Louise Heavens)
 ((ana.mano@thomsonreuters.com; Tel: +55-11-5644-7704; Mob:
+55-119-4470-4529; Reuters Messaging:
ana.mano.thomsonreuters.com@reuters.net))
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