Tag Archives: GVT

Brazil's GVT not for sale, says Vivendi

Telecoms, , ,

Indebted French operator, Vivendi has withdrawn the sale of GVT – its Brazilian subsidiary, after the highest bidder pulled out from the purchase.

The France based conglomerate had sought to raise at least US$9 billion from the sale, but DirecTV pulled out after making their final offer, leaving just an even lower offer from a group of private equity investors.

“GVT is a good asset and we’ll continue to develop it,” a spokesman for Vivendi said on Friday. “The offers we received so far are not satisfactory. We said all along that we would not sell assets at knock-down prices.”

The company has been looking to sell assets to pay down debts built up under the former CEO.

Talks to sell its 53% controlling stake in Maroc Telecom are said to be continuing, and there is renewed speculation that it may sell a stake in its French mobile network, SFR.

However, a spokesman for Vivendi recently commented that “SFR is not for sale.” and is looking at other options to cut costs in the increasingly competitive marketplace.

Telecom Italia's Reveals Latin America strategy

Telecoms, ,

Speaking during a summit in Santiago, Telecom Italia Chairman Franco Bernabe told Reuters
that Telecom Italia is not seeking to expand in Latin America, although the company plans to boost its infrastructure in view of growing regional data traffic.

According to Bernabe, Telecom Italia is looking at investments that strengthen its existing operations and where the operator has potential for growth. He added that Telecom Italia is not taking part in the bidding for Vivendi’s Brazilian unit GVT, as the price is too high.

Telefonica bids hard for Brazils GVT

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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 Latin Target.

Telecomunicações de São Paulo S.A. account record in Latin Target.