Spain’s largest telecoms group, Telefónica has offered $8.9 billion in cash and shares to acquire Vivendi’s Brazilian fixed-line telecoms operations, Global Village Telecom (GVT), in a deal that would help Telefonica to expand further in Brazil.
Vivo, the commercial brand of Telefónica in Brazil, is a leading operator in the mobile wireless market and leading broadband services provider in Sao Paulo, while GVT is a successful and fast growing alternative operator in Brazil.
A combination of Vivo and GVT would create the largest telecom operator in Latin America’s largest market, providing a unique platform for the generation of synergies and value creation, said Telefonica in a news release.
