Telecom Italia goes Globo

Latin America's largest 'Net deal involves $810 mil

RIO DE JANEIRO — In Latin America’s largest Internet deal to date, Telecom Italia paid $810 million for a 30% stake in Globo.com, the ISP and portal launched in March by Brazilian media giant Organizações Globo.

Executives for the two companies said they plan to extend Globo.com to Spanish-speaking countries in Latin America, and that Globo.com will offer Internet access via mobile phones using WAP technology.

Organizações Globo and Telecom Italia are already partners in the local wireless operator Maxitel.Telecom Italia owns other wireless and two wireline operators in the country.

“It was a strategic deal for Telecom Italia. They have the wireless infrastructure and now they combined it with the Internet content of Globo,” said Michel Wurman, an associate of local Internet investment company LatinTech. “It was also a good deal for Globo, especially if you consider the recent Nasdaq crises. Globo managed to sell the stake for a wonderful price.”

— Marcelo Cajueiro

More Digital

  • YouTube logo

    YouTube Streams Over 180 Million Hours to TV Screens Every Day

    RIO DE JANEIRO — In Latin America’s largest Internet deal to date, Telecom Italia paid $810 million for a 30% stake in Globo.com, the ISP and portal launched in March by Brazilian media giant Organizações Globo. Executives for the two companies said they plan to extend Globo.com to Spanish-speaking countries in Latin America, and that […]

  • Trump Davos

    Trump Tariffs Could Make Apple Watch, Sonos Speakers More Expensive (Report)

    RIO DE JANEIRO — In Latin America’s largest Internet deal to date, Telecom Italia paid $810 million for a 30% stake in Globo.com, the ISP and portal launched in March by Brazilian media giant Organizações Globo. Executives for the two companies said they plan to extend Globo.com to Spanish-speaking countries in Latin America, and that […]

  • ABC - More In Common

    ABC Hopes Feel-Good Series for Facebook About Americans Uniting Goes Viral

    RIO DE JANEIRO — In Latin America’s largest Internet deal to date, Telecom Italia paid $810 million for a 30% stake in Globo.com, the ISP and portal launched in March by Brazilian media giant Organizações Globo. Executives for the two companies said they plan to extend Globo.com to Spanish-speaking countries in Latin America, and that […]

  • Disney Cycles VR Short Film

    Disney Animation's First VR Film, 'Cycles,' Set to Premiere

    RIO DE JANEIRO — In Latin America’s largest Internet deal to date, Telecom Italia paid $810 million for a 30% stake in Globo.com, the ISP and portal launched in March by Brazilian media giant Organizações Globo. Executives for the two companies said they plan to extend Globo.com to Spanish-speaking countries in Latin America, and that […]

  • Beta Film Boards ‘The Pier,’ from

    Beta Film Boards ‘The Pier,’ from ‘Casa de Papel’ Creator Alex Pina

    RIO DE JANEIRO — In Latin America’s largest Internet deal to date, Telecom Italia paid $810 million for a 30% stake in Globo.com, the ISP and portal launched in March by Brazilian media giant Organizações Globo. Executives for the two companies said they plan to extend Globo.com to Spanish-speaking countries in Latin America, and that […]

  • Michelle Kempner

    BuzzFeed Entertainment Operations Head Michelle Kempner Exiting for Facebook

    RIO DE JANEIRO — In Latin America’s largest Internet deal to date, Telecom Italia paid $810 million for a 30% stake in Globo.com, the ISP and portal launched in March by Brazilian media giant Organizações Globo. Executives for the two companies said they plan to extend Globo.com to Spanish-speaking countries in Latin America, and that […]

More From Our Brands

Access exclusive content