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Broadband

Telefonica Brasil shareholders approve GVT acquisition

Friday 29 May 2015 | 10:12 CET | News
Telefonica has announced that the shareholders of its Brazilian unit have approved the purchase of broadband provider GVT from French media group Vivendi. In a statement to Spain's market regulator CNMV, Telefonica confirmed that the transaction included payment of EUR 4.66 billion in cash plus 12 percent of the share capital of Telefonica Brasil. In a separate filing, Vivendi added that it will proceed to exchange 4.5 percent of this interest for 8.3 percent of the ordinary shares of Telecom Italia in the coming weeks.

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Categories: Fixed
Companies: GVT / Telecom Italia / Telefonica
Countries: Brazil / Italy / Spain
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