Telecom Italia board to meet 06 Dec over GVT bid - report

Thursday 15 November 2012 | 15:01 CET | News
The president of Telecom Italia, Franco Bernabe, will propose during a board meeting on 06 December a global expansion strategy that includes the acquisition of GVT, the Brazilian fixed telephony operator up for sale by Vivendi. According to a report in Italian daily Corriere della Sera, Vivendi is asking EUR 9 billion for GVT, but could drop to EUR 5-6 billion, a figure that Telecom Italia's Brazilian unit Tim Brasil could afford. However, fresh funds are required for growth and that is where the EUR 3 billion capital increase proposed by Naguib Sawiris comes into play. According to the

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