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Broadband

Oi rejects bid for GVT

Monday 19 November 2012 | 15:47 CET | News
Brazilian operator Oi has issued a statement saying it does not plan to make a bid for GVT, the Brazilian operator owned by Vivendi. This follows a report in a Brazilian paper claiming the company was considering the acquisition. Oi said that it looks at all business opportunities, but in GVT's case, the right financial conditions are not in place. According to Portuguese investment bank BPI, this will prove a relief to investors in Portugal Telecom, which has a 25 percent stake in Oi. The acquisition of GVT would require a huge financial commitment and jeopardize the level of dividends paid

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Categories: Fixed
Companies: GVT / Oi / Portugal Telecom / Vivendi
Countries: Brazil / Portugal
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