Sawiris investment to help Telecom Italia buy GVT - report

Tuesday 13 November 2012 | 14:45 CET | News
Egyptian businessman Naguib Sawiris is planning to invest EUR 3-4 billion in Telecom Italia in order to help the Italian operator acquire Brazilian operator GVT, owned by Vivendi, reported Italian papers Corriere della Sera and Il Messaggero. Telecom Italia is one the companies that have expressed interest in GVT, which Vivendi hopes to sell for a minimum EUR 7 billion, but the Italian operator also needs to reduce its debt in the face of a slowing home market. In a separate report, French daily Le Figaro said that Sawiris is seeking management changes at Telecom Italia in exchange for his

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Categories: Fixed
Companies: GVT / Telecom Italia / Vivendi
Countries: Brazil / Italy
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