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General

Telefonica buys GVT for EUR 7.2 bln in cash and shares

Friday 19 September 2014 | 09:43 CET | News
Telefonica has confirmed its acquisition of Vivendi's Brazilian broadband operator GVT in a deal worth around EUR 7.2 billion in cash and shares. A final agreement was signed on 19 September after Vivendi had agreed to enter into exclusive negotiations with Telefonica on 28 August, snubbing a EUR 7 billion offer from Telecom Italia. The agreement, which was reached comfortably before the end of the three-month negotiation period, includes the payment of EUR 4.66 billion in cash, from which a bank debt of around EUR 450 million and adjustments in working capital must be deducted. In addition,

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Categories: General
Companies: GVT / Telecom Italia / Telefonica / Telefonica Brasil / Vivendi
Countries: Brazil / Spain
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