Bloomberg News

Portugal’s Ongoing Closes Deal to Buy IG in Brazil, Folha Says

April 15, 2012

Portuguese investment company Ongoing Strategy Investments SGPS SA has closed a deal to acquire Brazilian news portal IG, Folha de S. Paulo reported, without saying where it obtained the information.

Ongoing and Oi, which controls IG, have not completed the final details of the contract, which should be signed tomorrow, the newspaper said. The value of the sale wasn’t disclosed, Folha added.

IG is the fifth-largest portal in Brazil, with 23.5 million unique visitors in March, the newspaper said, citing research firm Ibope.

To contact the reporter on this story: Harry Maurer in Rio de Janeiro at hmaurer@bloomberg.net

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net


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