Telecom operator Claro, owned by Mexico's America Movil BMV:AMX/B, said on Sunday it has agreed to acquire a 73% stake in Brazilian internet provider Desktop BMFBOVESPA:DESK3 for an enterprise value of 4 billion reais ($752.93 million).
The base equity price, after deducting Desktop's net debt, is about 2.41 billion reais, or 20.82 reais per share, Claro said in a securities filing.
The share price represents a 44.5% premium over Desktop's Friday closing price of 14.40 reais.
The deal requires approval from Brazil's antitrust regulator CADE and telecom regulator Anatel.
Following the transaction, Claro will launch a public tender offer for remaining Desktop shares at no less than the acquisition price per share.
Desktop specializes in fiber-optic internet services.
America Movil is controlled by the family of Mexican billionaire Carlos Slim.
($1 = 5.3126 reais)