Brazilian internet provider Vero looks for strategic alternatives after cancelling IPO

Vinci Compass Investments

14/07/2022 13:38

SAO PAULO, July 14 (Reuters) - Brazilian internet provider
Vero, controlled by investment firm Vinci Partners Investments
 VINP.O , confirmed on Thursday in a securities filing it had
hired investment bank Itau BBA to consider strategic
alternatives.
    Vero had to cancel its initial public offering (IPO) in
January. Following a report by Brazilian newspaper O Estado de
S. Paulo saying Vinci was discussing a potential stake sale to
Fibrasil, owned by telecom company Telefonica SA  TEF.MC , its
subsidiary Telefonica Brasil  VIVT3.SA  and Canadian pension
fund CDPQ, Vero said the company was in talks with "several
investors about potential strategic transactions", but
shareholders have not yet decided on a specific deal. 
    O Estado de S.Paulo report said Vero would be valued at
around 4 billion reais ($733 million). 

($1 = 5.4561 reais)

 (Reporting by Tatiana Bautzer; editing by David Evans)
 ((tatiana.bautzer@tr.com; Tel: +55-11-5644-7756; Mob:
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