Telefonica bids hard for Brazils GVT
Telefonica has raised its unsolicited offer for Brazilian broadband operator GVT by 5.2 percent to BRL 50.50 per share. The bid increase aims to “ensure the success of the offer and reinforce Telesp’s intention” to buy GVT, the company said. Telefonica’s previous offer of BRL 48 per share was already higher than an earlier bid of BRL 42 per share from Vivendi. GVT’s shareholders have called for a minimum offer of BRL 48 cash. At the new price, Telefonica’s offer values the Brazilian operator at EUR 2.7 billion.
Global Village Telecom (GVT) account record in EMAT.
Telecomunicações de São Paulo S.A. account record in EMAT.
