Pay-TV channel Telecine doubles down on streaming business

After almost three decades on the air, the Telecine channel is in the midst of a major revamp since its inception in 1991: going from a pay-TV network to a streaming service. In this push, the company will invest in technologies to get closer to consumers and adopt business models more adapted to viewers in the digital era. Telecine currently has about 1.4 million streaming users, including subscribers who access the service for free because they already pay for the TV package. Focused on movies, Telecine is a joint venture between Valor parent Grupo Globo (50%) and four studios: Fox, MGM, Paramount and Universal, which own the other 50%.

Source: Valor Econômico

http://www.valor.com.br/international

 

Eletrobras expects share issuance and privatization in early 2020

Eletrobras may issue shares and reduce state ownership — in practice a privatization — by February 2020, in the first market window of the year, Wilson Ferreira Junior, president of the state-owned company, said on Tuesday when disclosing second-quarter earnings. “The capitalization operation is simple, it would be done in 90 to 120 days. The plan must be designed by the government in Congress,” said the executive, during a press conference. Mr. Ferreira Junior explained that, as the Brazilian state will not subscribe to the issuance of new shares, its share will be diluted to less than 50%, so the government will lose the company’s control. It will also be up to the government to decide whether or not there will be a special golden share.

Source: Valor Econômico

http://www.valor.com.br/international

 

Bitcoin Banco on tight rope as customers demand money back

A cryptocurrency trading platform called Grupo Bitcoin Banco (GBB) has been without a concrete solution for thousands of customers who cannot withdraw from their accounts, whether in reais or cryptoassets. Meanwhile, lawsuits are quickly multiplying against the company and its owner, Claudio Oliveira, who until May promoted himself as the “king of bitcoin.” In an audio last weekend, the businessman admitted the continuing problems with withdrawals, said he was working on a solution, but without specifying which. With headquarters in Curitiba, Paraná, the group is the target of at least 100 lawsuits in several states totaling more than R$70 million, according to Paraná-based lawyer Gustavo Bonini Guedes.

Source: Valor Econômico

http://www.valor.com.br/international

 

 

Petrobras and six other companies competing for gas contracts

Six companies, including Shell, Total and Bolivian state-owned company YPFB, will compete with Petrobras in the next few months for the natural-gas market of Brazil’s “Center-South” region – all states in the South and Southeast regions plus Mato Grosso do Sul, Goiás, the south of Tocantins and Mato Grosso and the Federal District. Piped gas distributors MSGás, Gas Brasiliano, Compagas, SCGás and Sulgás have begun final negotiations with potential suppliers to start purchasing in 2020. Altogether the distributors purchase 10 million cubic meters of gas a day, or one-fourth of what all Brazilian distributors sell in the non-power plant market. Among suppliers, Repsol and Golar Power have already started direct negotiations with Sulgás, while Cocal Energia is trying to finalize a deal with Gas Brasiliano to supply biomethane.

Source: Valor Econômico

http://www.valor.com.br/international

 

B2W pushes Lojas Americans to compete in “superapps”

B2W and its parent, department store Lojas Americanas, will take another step to join the race of large retail and technology groups developing “superapps” allowing consumers to shop, pay bills, order food, borrow, call for a ride and solve other chores using a unified platform on their phones. Magazine Luiza, Via Varejo, Mercado Livre and Rappi are already trying to develop their proposals. B2W will start by spinning off digital wallet Ame, created about one year ago to offer discounts and encourage purchase in the group’s stores and websites, and accelerate new partnerships with companies to expand product and service offerings through the app

Source: Valor Econômico

http://www.valor.com.br/international

 

 

BYD hits 1GW mark in Brazilian solar panels

Chinese giant BYD has hit 1GW in solar-panel modules delivered in Brazil, or about one-third of all solar capacity currently in operation here. Sales started picking up strongly later last year when BYD shifted the focus from largescale solar farms to distributed-generation projects topping at 5MW, marketing director Adalberto Maluf says. The company opened its first Brazilian factory in 2015 in Campinas, São Paulo, to assemble electric buses and market imported vehicles and forklifts. It now offers 25 and 30-year warranties on solar modules, an aspect that Mr. Maluf believes provides a vital edge.

Source: Valor Econômico

http://www.valor.com.br/international

 

Officials accelerate electricity market’s liberalization

The Mines and Energy Ministry decided to push forward plans to expand the country’s unregulated electricity market, Valor has learned. The ministry will begin public hearings this Friday to discuss a gradual reduction of consumer migration limits with an eye on fully liberalizing the market by January 2024. Today, residential consumers can only purchase power from local distribution monopolies, while industrial consumers already can choose their providers. If approved, it would be the biggest liberalization push in Brazil’s power market since 1997. But experts warn that disconnection procedures at the power exchange CCEE in case of default remain too slow and could scare off providers.

Source: Valor Econômico

http://www.valor.com.br/international

 

Central Bank readying currency hedging for infrastructure projects

Central Bank President Roberto Campos Neto said the government has nearly finished a proposal to allow infrastructure investors to hedge their currency risks without paying taxes. Investors would get an exemption from foreign-exchange taxes while still paying a levy on the project’s net earnings, he said. Meanwhile, the BC chief also warned that emerging market nations still benefit from investment flows thanks to lower credit costs, but they became more selective. “We have a very big downgrade in growth,” he said during an event hosted by BTG Pactual yesterday in São Paulo. Mr. Campos Neto assured that Brazil has sound international reserves and is prepared to face the new global landscape.

Source: Valor Econômico

http://www.valor.com.br/international

 

Newsletter July-August 2019

Newsletter July-August 2019