Telefonica Offers 6.7 Billion Euros For Vivendi's Brazil Unit Gvt - Yahoo Finance

August 5, 2014

Send Thanks! A link has been sent. Done Telefonica bids 6.7 billion euros for Vivendi's Brazil broadband unit 5 minutes ago A woman walks past a Telefonica building in Barcelona, July 31, 2014. REUTERS/Albert Gea By Leila Abboud and Sarah Morris MADRID (Reuters) - Spain's Telefonica has made a 6.7 billion euro (6.71 billion pounds) bid to France's Vivendi for its Brazilian broadband unit GVT as it seeks to strengthen its mobile leadership in the fast-growing Latin American country. The surprise move comes after Vivendi, led by its chairman and largest shareholder Vincent Bollore, said in late June it wanted to keep its last remaining telecom asset despite repositioning itself as a media company. In a statement, the French company said that none of its units were for sale but it would consider Telefonica's offer at its next board meeting. Telefonica said on read here Tuesday its offer consisted of an 11.96 billion Brazilian reals ($5.30 billion) payment in cash link plus new shares to be issued in Telefonica Brazil worth 12 percent of the larger group.

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