Telefonica bids to create Brazil's top operator

Aug 05, 2014

Spain's telecommunications company Telefonica says it has made a 6.7 billion-euro ($9 billion) offer to buy Brazilian operator Global Village Telecom, or GVT, from French media conglomerate Vivendi.

A Telefonica S.A. statement Tuesday said the company planned to combine GVT with Telefonica Brasil to make what it said would be the biggest telecom operator in Latin America's largest market.

Telefonica said it has offered 11.96 billion Brazilian reals ($5.3 billion) in cash and 12 percent of the share capital in the new company.

It said it was also offering Vivendi the chance to acquire an 8.3 percent stake in Telecom Italia.

Shares in Telefonica were down 1.3 percent at 11.8 euros in morning trading in Madrid.

Explore further: New US-Spanish firm says targets rich mobile ad market

not rated yet
add to favorites email to friend print save as pdf

Related Stories

New US-Spanish firm says targets rich mobile ad market

Apr 16, 2014

Spanish telecoms firm Telefonica and US investment giant Blackstone launched a mobile telephone advertising venture on Wednesday, challenging internet giants such as Google and Facebook in a multi-billion-dollar ...

Deal creating top German mobile company gets OK (Update)

Jul 02, 2014

In a deal that creates Germany's biggest mobile phone company in terms of customers, the European Union's antitrust authority on Wednesday approved network operator Telefonica's bid to buy its competitor E-Plus under certain ...

Telefonica deal to buy Brazil's Vivo falls apart

Jul 18, 2010

(AP) -- Spanish telecommunications giant Telefonica on Saturday pulled out of negotiations to acquire a euro7.15 billion ($9.3 billion) stake in Brazil's leading cell phone company Vivo.

Spain's Telefonica sells China Unicom stake

Jun 10, 2012

Spanish giant Telefonica said Sunday it has sold a 4.56 percent stake in one of China's top telecoms companies, China Unicom, for 1.13 billion euros (41.4 billion).

Portugal blocks Telefonica bid for Vivo

Jun 30, 2010

(AP) -- The Portuguese government used its special voting rights Wednesday to block Telefonica's euro7.15 billion ($8.72 billion) bid to buy Portugal Telecom's stake in Brazil's leading cell phone company Vivo.

Recommended for you

Microsoft profit dips as revenue rises

4 hours ago

Microsoft on Monday reported that its quarterly profit dipped as revenue increased with help from sales of Surface tablets, Xbox One consoles and cloud services.

IBM "flatly denies" report of mass layoffs

9 hours ago

Calling it "ridiculous" and "baseless," IBM on Monday dismissed a report that said the technology giant plans to lay off 1 in 4 of its workers, or 100,000 people.

NHL sends GoPro cameras onto the ice

Jan 23, 2015

Ice hockey fans will get a new perspective on the fast-moving game when National Hockey League players don GoPro cameras, starting with this weekend's all-star fixture.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.