The Brazilian Senate has approved a law that allows telecommunications operators and foreign companies to provide cable TV services in the country. The measure is now awaiting the approval of President Dilma Rousseff.
Under the new law, America Movil would be able to exercise the option it has to acquire control of voting rights in Net Servicos, Brazil’s largest cable TV operator. America Movil already owns 49 per cent of the voting rights and a 92 per cent financial shareholding in Net. Oi, which is 26.5 per cent owned by Portugal Telecom, will be able to offer TV services through its telephone network.