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

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

FTC's Google investigation probed by Senate antitrust chief

9 hours ago

The chairman of a U.S. Senate antitrust panel will look into the release of a confidential Federal Trade Commission report on an investigation of Google Inc.'s search business, which was closed in 2013 without an enforcement ...

Traffic court goes digital: Startup fosters settlements

9 hours ago

Traffic court is going digital. Michigan startup Court Innovations has developed a software solution that allows drivers to settle traffic violations by negotiating in a virtual environment instead of showing up to court ...

Amazon puts home staples on refill button

9 hours ago

Amazon moved Tuesday to become an errand service for home staples, introducing a "dash button" to allow consumers to instantly order popular products for home and kitchen.

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.