América Móvil's Claro buys 72.83% of Desktop for R$ 1.75B

América Móvil subsidiary Claro concluded on Thursday, October 1, 2026, the acquisition of control of Brazilian internet service provider Desktop. Operating through Claro NXT Telecomunicações, the unit purchased 84.7 million common shares, representing 72.83% of Desktop's capital, for R$ 1.747 billion, subject to contractual adjustments.

The transaction price represents R$ 20.63 per share. Of the total, R$ 1.620 billion corresponds to the closing installment, which includes R$ 20 million retained as a guarantee for debt adjustments. Another R$ 127.5 million will remain in an escrow account with monthly releases to cover seller indemnification obligations. The total price remains subject to final net debt adjustments as of September 30, 2026. The stake was acquired from the Makalu fund alongside shareholders Denio Alves Lindo, Mucio Camargo de Assis Filho, Marcos Camargo de Assis, and José Carlos Franco Júnior.

Following the transaction, Rodrigo Marques was elected CEO of Desktop, and Roberto Catalão Cardoso became CFO and investor relations director. Previous director Denio Alves Lindo stepped down, as did Bruno Silva Carvalho de Souza Leão, Benício Silva Gontijo, André Falcão Ribeiro, and Glauno Herton Brandão Junior. In addition, José Felix, Rodrigo Marques, and Roberto Catalão joined the board of directors, replacing Débora Mayor Vizeu, Bernardo Varela Mello, and Ana Regina Roson. The executive board holds a term ending at the shareholders meeting that reviews the 2026 financial statements.

Claro NXT will submit a tender offer filing to Brazil's securities regulator, the CVM, offering remaining minority shareholders the same per-share price. The offer may combine the mandatory change-of-control bid, a category change from A to B, and Desktop's delisting from B3's Novo Mercado segment. Brazil's antitrust regulator Cade cleared the acquisition without restrictions in September, following Anatel's approval in May, which requires consolidating network pole attachments within 24 months.