Vivendi receives four offers over EUR 6 bln for GVT - report

News Broadband Brazil 29 NOV 2012
Vivendi receives four offers over EUR 6 bln for GVT - report
Vivendi has received four non-binding offers over EUR 6 billion for Brazilian broadband operator GVT, people familiar with the matter told Reuters. The offers were submitted by Mexico's America Movil, US satellite group DirecTV, US cable group Liberty Global, and a consortium of private equity companies. The four bids are all lower than the EUR 7 billion that sources previously told the news agency Vivendi was aiming to raise from the sale. While Vivendi received more than four offers initially, it has reportedly kept four for the next round of bidding. Final bids are expected to be submitted by early January. One person said that Vivendi is confident of selling GVT in the first quarter, before its sells Maroc Telecom, and that it is considering two of the four bids for GVT as serious. The company is reportedly being advised by Deutsche Bank and Rothschild on the GVT sale.

Categories:

Internet

Companies:

America Movil,  DirecTV,  GVT,  Liberty Global,  Maroc Telecom,  Vivendi

Countries:

Brazil

Tags:

Voice services, Unified communications, xDSL, Internet Access, Consumer, Enterprise, M&A buyouts & divestments

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