Vivendi, Telefonica in talks over Brazil business (Update)

August 28, 2014

French media conglomerate Vivendi said Thursday it would begin exclusive talks with Spanish telecoms company Telefonica for the sale of its Brazilian operator Global Village Telecom, or GVT, after the Spanish company raised its offer to 7.45 billion euros ($9.82 billion) from 6.7 billion euros.

Telefonica S.A. says it hopes to combine GVT with its unit Telefonica Brasil to make it the biggest telecom operator in Latin America's largest market.

In a statement Thursday, Telefonica said the latest offer included 4.66 billion in cash and 12 percent of the share capital in the new company.

The new offer trumps a rival offer from Telecom Italia, which bid 7 billion euros for GVT.

Vivendi said the "Telefonica offer best meets the Group's strategic and financial objectives," noting that it would generate a capital gain of more than 3 billion euros.

Telefonica has also offered Vivendi the chance to acquire its stake in Telecom Italia, which is worth 8.3 percent of the voting rights.

Shares in Telefonica were down 0.3 percent at 12.1 euros in Madrid. Vivendi shares were down 0.1 percent at 20.14 euros in Paris.

Explore further: Telefonica bids to create Brazil's top operator

Related Stories

Telefonica bids to create Brazil's top operator

August 5, 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.

New US-Spanish firm says targets rich mobile ad market

April 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 market.

Spain's Telefonica sells China Unicom stake

June 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).

Telefonica deal to buy Brazil's Vivo falls apart

July 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.

Deal creating top German mobile company gets OK (Update)

July 2, 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 ...

Recommended for you

World gears up for electric cars despite bumps in road

July 26, 2017

Technological advances mean fossil fuel in cars could be phased out within decades but switching to electric carries its own environmental and economic concerns as more and more countries announce radical plans.

Musk, Zuckerberg duel over artificial intelligence

July 25, 2017

Visionary entrepreneur Elon Musk and Facebook chief Mark Zuckerberg were trading jabs on social media over artificial intelligence this week in a debate that has turned personal between the two technology luminaries.

Adobe bidding Flash farewell in 2020

July 25, 2017

Adobe on Tuesday said its Flash software that served up video and online games for decades will be killed off over the next three years.

0 comments

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.