Telefónica Buys GVT from Vivendi in a $9.3 Billion Deal

Telefónica has signed the final agreement with France's Vivendi for the purchase of a stake in Brazilian broadband unit, Global Village Telecom (GVT) for €7.24 billion ($9.3 billion). Vivendi will receive 4.7 billion euros in cash, a 7.4 percent stake in Telefonica’s Brazilian business and 8.3% of Telefónica’s stake in Telecom Italia.

The transaction is expected to close before the end of the first half of 2015.

The new Telefónica Brasil resulting from the integration will enhance its leadership as the country’s integrated telecommunications operator, leader in both the mobile and broadband segments, with national coverage and an increased exposure in the high value segment, said Telefonica in a statement.

GVT owns a large new generation network with over 10.4 million homes passed in 21 Brazilian states and more than 2.5 million broadband customers, most of them located outside of Sao Paulo.

 

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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