TIMS3 sees change in control and approves interest on equity in 3Q26

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The week of September 14 to 18 brought a major change in the telecom sector, with Poste Italiane taking indirect control of TIM (TIMS3), while the operator approved interest on equity (JCP, a way of distributing profits that reduces taxes for the company) of R$ 0.21668 per share and the cancellation of 13.2 million shares. In retail, Casas Bahia (BHIA3) reported changes in its board and committee, clarified its R$ 1.2 billion exposure in an FIDC (receivables investment fund), announced a plan to seek a minimum share price and raised R$ 368.2 million in private commercial notes.

Among corporate highlights, Petrobras (PETR4) signed eight production sharing contracts in Côte d’Ivoire, expanding its international exploration and production activities. In the energy sector, Alupar (ALUP11) reported revenue of R$ 2.9 billion in 1H26, while Light (LIGT3) reported an S&P rating upgrade for Light Sesa. Brava Energia (BRAV3) completed the sale of 11 concessions in Rio Grande do Norte, and Axia Energia (AXIA3) concluded the process of conversion and redemption of PNCs (corporate profit-sharing certificates). Sabesp (SBSP3) finalized the merger of EMAE’s shares, and Equatorial Energia (EQTL3) reported an average tariff increase of 6.94% at Equatorial Pará.

Cash flows from distributions and capital structure changes also filled the agenda. Porto Seguro (PSSA3) approved JCP of R$ 0.52 per share for 3Q26, while TOTVS (TOTS3), Intelbras (INTB3), Lojas Renner (LREN3), Multiplan (MULT3), Allos (ALOS3), Cemig (CMIG4), WEG (WEGE3) and Telefônica Brasil (VIVT3) announced JCP ranging from R$ 0.0611 to R$ 0.87 per share. B3 (B3SA3) reported a 26% increase in equity trading volume in August 2026, and Irani (RANI3) approved a long-term incentive plan (ILP) for 2026–2030 with the issuance of up to 5.1 million shares. Assaí (ASAI3) approved the repurchase of R$ 200 million in debentures and announced the acquisition of 18 gas stations for up to R$ 80 million.

In mergers, acquisitions and ownership changes, OceanPact (OPCT3) completed the merger of CBO, issuing 275 million shares, a move accompanied by significant changes in its shareholder base: the Vinci Partners FIP came to hold 21.85%, BNDESPar reached 11% after the merger, and Dynamo reduced its stake to 4.51%. Paranapanema (PMAM3), which was among the week’s biggest losers, disclosed that João Carlos Correa de Vargas reached 27% of its capital. In the real estate and financial segment, EZTEC (EZTC3) signed a R$ 1.2 billion agreement with Itaú, Americanas (AMER3) announced a court‑ordered sale of properties for R$ 129.9 million, Rede D’Or (RDOR3) and Bradsaúde (SAUD3) reported new real estate acquisitions in Jundiaí, and CVC (CVCB3), which figured among the biggest decliners, disclosed a BBB(bra) rating from Fitch Ratings. There was also the inclusion of JHSF (JHSF3) in B3’s IBRX 100 index, management changes at Espaçolaser (ESPA3), Oncoclínicas (ONCO3) and WEG (WEGE3), as well as several ownership changes involving Cyrela (CYRE3/CYRE4), Marcopolo (POMO4), Iguatemi (IGTI4), Enjoei (ENJU3), Banco BMG (BMGB4), Bradespar (BRAP4), OranjeBTC (OBTC3) and the distribution of remaining shares by Bradesco (BBDC4).