3i Hits Brazilian Market With $55M Cable Co. Stake

Law360, New York (December 20, 2011, 1:09 PM EST) -- International private equity investor 3i Group PLC has dived into the surging Brazilian market and acquired a minority stake in cable television and broadband startup Blue Interactive Group for 100 million reais ($55 million), the firm announced Tuesday.

3i, based in London, made its inaugural investment in Brazil, agreeing to take a “significant minority stake” in Blue Interactive and guide the ongoing expansion of its cable TV and Internet services to underserved mid-sized cities, according to the statement.

“The Brazilian cable TV and broadband market is...
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