Telefonica in exclusive talks on GVT acquisition

Telefonica in exclusive talks on GVT acquisition

M&A

Telefonica is in exclusive negotiations with Vivendi to acquire its Brazilian operation GVT, the companies said on Thursday. Telefonica has offered €4.66bn ($6.15bn) in cash and a 12% stake in the new Brazilian entity, after its integration with GVT. The bid, a revision of one submitted earlier in the month, is worth €7.45m. The cash portion will come from a capital increase at Telefonica Brasil. The news came after Telefonica and Telecom Italia both sent offers to Vivendi on Thursday over its B

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