Thursday, 08 December 2016

Telecom Italia makes €7bn GVT offer, Telefonica ups bid

By Nick Wood, Total Telecom
Thursday 28 August 14

Battle for Brazilian broadband provider heats up; Telecom Italia acknowledges Oi's interest in TIM Brasil.

The battle for Brazilian broadband and pay TV provider GVT heated up on Thursday after Telecom Italia launched a takeover bid and Telefonica sweetened its offer. Telecom Italia, which operates in Brazil as TIM Brasil, has followed through on its interest in GVT by offering parent Vivendi €1.7 billion in cash for a minority stake in GVT as well as a 15% stake in the combined GVT/TIM entity. It has also offered Vivendi a 20% stake in Telecom Italia…

The battle for Brazilian broadband and pay TV provider GVT heated up on Thursday after Telecom Italia launched a takeover bid and Telefonica sweetened its offer. Telecom Italia, which operates in Brazil as TIM Brasil, has followed through on its interest in GVT by offering parent Vivendi €1.7 billion in cash for a minority stake in GVT as well as a 15% stake in the combined GVT/TIM entity. It has also offered Vivendi a 20% stake in Telecom Italia…

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