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Tag: telecom italia
Fitch: Oi Deal May Aid Telecom Italia Leverage; Cut Competition
2014-09-03 13:33:08| Telecom - Topix.net
The likely failure of Telecom Italia's bid for Global Village Telecom in Brazil leaves the door open for Grupo Oi to make an offer for the Italian group's stake in TIM Participacoes, Fitch Ratings says.
Telefonica to exit Telecom Italia after GVT deal - chairman
2014-09-02 08:56:00| Telecompaper Headlines
(Telecompaper) Telefonica is set to exit Telecom Italia after it has finalised the acquisition of Vivendi's Brazilian broadband operator GVT, with a view to circumventing competition concerns in Brazil. "After the GVT operation the message is clear, we don't want to stay in Telecom Italia," commented Telefonica chairman Cesar Alierta at the XXVIII telecommunications and digital economy meeting held at Universidad Internacional Menendez Pelayo (UIMP) in Santander. Telefonica has been the dominant partner in the Telco SpA investor group that has controlled Telecom Italia for the past 7 years but the imminent break up of the holding has prompted questions about Telefonica's plans for the rest of its stake in Telecom Italia. It will still hold 8.3 percent of voting rights in the Italian operator once it completes a transaction announced in July to convert EUR 750 million of bonds exchangeable into Telecom Italia shares. Telefonica offered its Telecom Italia shares to Vivendi as part of its bid for GVT and last week confirmed that it expects the purchase to close in mid-2015.
Tags: deal
italia
exit
chairman
Telecom Italia in a bind after losing GVT bid battle
2014-09-01 01:06:27| Telecom - Topix.net
Telecom Italia has lost a promising path to earnings growth by failing to secure Brazilian broadband business GVT and may now turn from hunter to hunted in a fast-consolidating telecoms industry.
Tags: italia
bid
battle
telecom
Telecom Italia to push on with Brazil plans
2014-08-29 02:00:00| Total Telecom industry news
As Vivendi enters exclusive talks with Telefonica on GVT deal, Italian telco vows to keep investing in Brazil, but commits to 'disciplined approach' to strategy.
Tags: plans
italia
brazil
push
Telecom Italia offers EUR 7 bln for GVT, Telefonica ups bid
2014-08-28 08:38:00| Telecompaper Headlines
(Telecompaper) Telecom Italia has made a EUR 7 billion cash-and-share offer for Vivendi's fast-growing Brazilian broadband unit GVT, prompting a bidding war with Telefonica, which almost immediately responded with a EUR 7.45 billion offer. Telecom Italia's proposal envisages a merger between GVT and the Italian operator's Brazilian unit Tim Brasil, with Vivendi taking a stake of around 15 percent in the combined company and 20 percent in Telecom Italia itself. The cash payment, meanwhile, will come from a capital increase by Tim Brasil. Overall, Telecom Italia confirmed that the bid was made up of 24 percent in cash and around 76 percent in shares and will be valid until 20 September. Shortly after Telecom Italia released the details of its bid, Telefonica made a new offer for GVT worth EUR 7.45 billion, up from its 05 August proposal of EUR 6.7 billion. Telefonica said it would pay EUR 4.66 billion in cash and offer Vivendi a 12 percent stake in the new combined group to be created from the merger of GVT and Telefonica Brasil. Telefonica, whose offer expires on 29 August unless the two parties agree to an extension, also offered Vivendi an option to buy an 8.3 percent stake in Telecom Italia.
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