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Telefonica waives TI rights to pave way for GVT takeover
2015-03-23 09:20:00| Telecompaper Headlines
(Telecompaper) Telefonica has formally waived its voting rights in Telecom Italia as part of the conditions required by Brazil's National Telecommunications Agency (Anatel) to grant approval for the Spanish company's acquisition of broadband operator GVT. Earlier this month the Brazilian regulator gave the go ahead for Telefonica to transfer 8.3 percent of its Telecom Italia voting shares to French media group Vivendi as part of the payment for GVT, as well as 11.3 percent of its preferential shares in Telefonica Brasil. In a statement to Spain's market regulator CNMV, the Spanish operator confirmed it had agreed to waive its voting rights in Telecom Italia in an unrestricted manner to comply with Anatel's rulings.
Tags: rights
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Category:Telecommunications