Anatel approves GVT acquisition by Telefonica

News Broadband Brazil 23 DEC 2014
Anatel approves GVT acquisition by Telefonica
Brazil's National Telecommunications Agency (Anatel) has issued conditional approval for the purchase of broadband operator GVT by Telefonica. The conditions include the return of the fixed telephony concessions in areas where the two companies overlap (mainly in Sao Paulo) and a minimum 18 months for GVT to maintain current contracts with its users, reports Reuters. The same deadline will apply for both companies to maintain joint plans and offers. 

Anatel also established a period of 18 months for the Spanish operator to dispose of its shareholding in Telecom Italia. Anatel also determined that, for 18 months, Telefonica loses rights in the management of Telecom Italia. 

It was also decided that the planned transfer of shares held by Telefonica in Telecom Italia to Vivendi, as part of the payment for GVT, will have to be resubmitted to the Brazilian regulatory agency. Anatel also approved the entry of Vivendi in the capital of Telefonica Brasil, an operation also included in the purchase of GVT, as well as the payment of EUR 4.66 billion for the broadband operator.


 

Categories:

Fixed

Companies:

Telecom Italia,  Anatel,  GVT,  Telefonica Brasil,  Vivendi,  Telefonica

Countries:

Brazil

Tags:

Internet Access, M&A buyouts & divestments

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