Vivendi sells GVT to Telefonica

Share this on social media:

The French media company Vivendi has agreed to sell GVT, its wholly-owned Brazilian subsidiary, to the Spanish telecoms business Telefonica.

The agreement, signed yesterday, includes a payment of €4.66 billion in cash, from which a bank debt of around €450 million and adjustments in working capital will be deducted. Vivendi will also receive 7.4 per cent of Telefonica Brasil shares, at a stock market value of €2.02 billion , and 5.7 per cent of Telecom Italia shares.

The final agreement is subject to certain conditions, including the approval by the relevant regulatory authorities, notably Anatel (Telecommunications) and Cade (Competition) in Brazil. The closing of the transaction should take place before the end of the first half of 2015.

Recent News

17 November 2020

Hitachi High-Tech is to acquire VLC Photonics, making it a subsidiary company through which it will continue to provide photonic integrated circuit (PIC) engineering services.

12 November 2020

Construction and engineering firm nmcn has been chosen by CityFibre to deliver its full-fibre rollouts across Barnsley and Halifax in the North of England.

09 November 2020

Digital network integrator, Sterlite Technologies (STL) has signed definitive agreements to acquire Italian interconnect vendor, Optotec.

02 November 2020

Infrastructure semiconductor supplier, Marvell Technology Group has reached an agreement to acquire high-speed data movement specialist, Inphi.