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Telefonica to Pay $9.3B For Vivendi's Brazilian Telecom GVT

2014-09-20 13:45:37| Telecom - Topix.net

PARIS -- France's Vivendi has agreed to sell Brazilian telecommunications unit GVT to Telefonica for about 7.24 billion euros in cash and stock, striking a final deal in a two-year disposal program that has taken in more than $40 billion and transformed the former telecommunications giant into a media company. Spain's Telefonica will pay 4.66 million euros in cash, hand Vivendi a 7.4% stake, worth about 2.02 billion euros, in its Telefonica Brasil unit and a further 5.7% stake, worth about 1.01 billion euros, in Telecom Italia SpA.

Tags: pay telecom brazilian telefonica

Telefonica buys GVT for EUR 7.2 bln in cash plus shares

2014-09-19 09:43:00| Telecompaper Headlines

(Telecompaper) Telefonica has confirmed its acquisition of Vivendi's Brazilian broadband operator GVT in a deal worth around EUR 7.2 billion in cash and shares. A final agreement was signed on 19 September after Vivendi had agreed to enter into exclusive negotiations with Telefonica on 28 August, snubbing a EUR 7 billion offer from Telecom Italia. The agreement, which was reached comfortably before the end of the three-month negotiation period, includes the payment of EUR 4.66 billion in cash, from which a bank debt of around EUR 450 million and adjustments in working capital must be deducted. In addition, Vivendi will receive 7.4 percent of Telefonica Brasil shares, at a stock market value of EUR 2.02 billion as of 18 September, and 5.7 percent of Telecom Italia shares at a stock market value of EUR 1.01 billion as of 18 September. Vivendi confirmed in a statement that it will also be liable for tax estimated at around EUR 500 million. It said the transaction should close before the end of the first-half of 2015, subject to regulatory approval from Anatel and Cade, Brazil's telecoms and competition authorities.

Tags: plus eur cash shares

Telefonica finalises GVT deal

2014-09-19 02:00:00| Total Telecom industry news

Spanish telco formalises acquisition of Brazilian operator; agrees sale of Telecom Italia stake to Vivendi.

Tags: deal telefonica finalises

Telecom Italia Said to Weigh Oi Bid to Challenge Telefonica

2014-09-17 11:46:56| Telecom - Topix.net

Telecom Italia SpA is evaluating a potential acquisition of Brazilian carrier Oi SA to challenge Telefonica SA in the largest phone market in Latin America, according to three people familiar with the matter. The Milan-based carrier has spoken to advisers about using its Brazilian unit Tim Participacoes SA to buy Oi, said the people, who asked not to be identified because the discussions are private.

Tags: to italia challenge bid