(Reuters) - Net Servicos bought a 36.7 percent stake in Brazil's No. 2
cable company Vivax in December. It received regulatory
approval in May to buy out the remaining shares. The company
said the net loss was due in part to nonrecurring adjustments
it had to make after folding Vivax into its balance sheet.
The number of pay TV subscribers rose 17 percent to 2.3
million and broadband Internet clients jumped 75 percent to
1.12 million, Net Servicos said. The rise in paying clients
helped boost net sales to 698.3 million reais from 545.8
million reais a year earlier.
Read more at Reuters.com Market News
cable company Vivax in December. It received regulatory
approval in May to buy out the remaining shares. The company
said the net loss was due in part to nonrecurring adjustments
it had to make after folding Vivax into its balance sheet.
The number of pay TV subscribers rose 17 percent to 2.3
million and broadband Internet clients jumped 75 percent to
1.12 million, Net Servicos said. The rise in paying clients
helped boost net sales to 698.3 million reais from 545.8
million reais a year earlier.
Read more at Reuters.com Market News
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