Cemig prepares sale of stake in broadband unit – Exame

(Reuters) – The telecommunications arm of Brazilian utility Cemig SA is preparing to sell a stake in its broadband operation to private equity firm GP Investments Ltd and other investors, according to a magazine report on Saturday.

Brazilian business magazine Exame reported, without saying how it obtained the information, that the deal could raise some 1 billion reais ($325 million) for the state-controlled utility known formally as Companhia Energatica de Minas Gerais.

A press representative working for GP Investments said the firm did not comment on market speculation. Cemig’s press office in Belo Horizonte, Brazil, could not be reached for comment.