September 25, 2017 / 10:07 PM / 2 years ago

Brazil's Algar Telecom says banks hired to advise on possible IPO

SAO PAULO, Sept 25 (Reuters) - Brazil’s Algar Telecom SA has hired banks to advise it on a possible initial public offering, the company said in a securities filing on Monday.

Algar did not name the financial institutions it has taken on as consultants and gave no timetable for the potential IPO. Reuters reported in June that Algar was one of five companies interested in the privatization of Cia Energética de Minas Gerais, Brazil’s second-largest utility. (Reporting by Anthony Boadle; Editing by Tom Brown)

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