Newtel Participações S.A. (BZ:NEWT3B) announced a private placement of 2,265,934,374 common shares at BRL 0.037 per share for gross proceeds of BRL 83,999,999.99 on June 26, 2013. The transaction was approved at the extraordinary general meeting of the company. The investors will exercise their preemptive rights to subscribe to such shares in proportion to their respective stakes in the company, during the period of 45 days, ending on August 12, 2013. The unsubscribed shares will be divided among shareholders who express interest, in proportion to number of shares subscribed in the preemptive period. If there is no manifestation of interest, on all the balance unsubscribed shares, the transaction will be will be cancelled.

On September 9, 2013, Newtel Participações S.A. cancelled the transaction.