Brazil’s Claro-Desktop deal talks slow

SAO PAULO: Negotiations for Brazilian telecom operator Claro to acquire internet provider Desktop have slowed due ‌to disagreements over ⁠contractual terms ⁠and pricing, sources familiar with the matter told Reuters.

Shares in Desktop, also based in Brazil, extended losses after the report on Monday, plunging over 23% and bringing their year-to-date decline to near 30%.

However, the stock price remains almost 20% higher than it was before news of the potential deal became public on October 7.