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Brazilian telecommunications TIM obtains the right to a 1.4% stake in C6 Bank

According to TIM, the right comes after reaching, in December 2020, the 1st level of the goals agreed within the scope of the strategic partnership signed with the bank

Brazil's fintech unicorn C6 Bank. Photo: Shutterstock
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  • TIM announced on Monday that it was entitled to exercise subscription bonuses in C6;
  • The bonus will be exercised at the time the telecom carrier evaluates it as opportune.

Brazilian telecommunications firm TIM announced on Monday that it was entitled to exercise subscription bonuses equivalent to an indirect stake of approximately 1.4% of the share capital in digital bank C6, which will be exercised at the time the telecom carrier evaluates it as opportune.

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According to TIM, the right comes after reaching, in December 2020, the 1st level of the goals agreed within the scope of the strategic partnership signed with the bank.

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“It is important to note that the aforementioned subscription bonus will grant TIM when exercised, a minority position and without a controlling or significant influence over the management of C6,” said the company.

(Translated by LABS)

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