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American Tower, Algar buy telecom assets of Brazil's Cemig

SAO PAULO, Aug 8 (Reuters) - American Tower Corp and local telecommunications company Algar Telecom SA purchased on Wednesday the broadband network of state-run utility Companhia Energetica de Minas Gerais SA, commonly known as Cemig.

At an auction in Cemig's headquarters in the interior state of Minas Gerais, American Tower won Lot 1 of the network with a 571 million reais ($152 million) bid, while Algar won the smaller Lot 2 with a 78 million reais bid.

($1 = 3.75 reais) (Reporting by Luciano Costa; Writing by Gram Slattery)