Good morning! This week, we are covering Brazil’s new Telecom Law, recently sanctioned by the president. Plus, a campaign financing scandal involving dummy candidates and the Tourism Ministry which could have negative consequences for Jair Bolsonaro, and how Brazilian markets performed. Also, what you should be looking out for this week—and the most important facts of the previous seven days. (This newsletter is for platinum and gold subscribers only. Become one now!)
Brazil’s new Telecom Law
After three years of hemming and hawing, Brazil has finally approved a new legal framework for telecoms companies. The previous law dated back to 1997 and was overly focused on landline telephony, a form of communications which is largely obsolete in the country.
The main change involves moving away from a concession model for telecommunications services to one open to the private sector and based on operating licenses, giving companies more freedom in setting prices. In exchange, companies will have to pledge investments toward expanding access to broadband internet around the country.
Why it matters. The previous framework came at a time when the internet was only an embryonic idea in Brazil, while it is now the central focus the brand-new law. The legislation...