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Telefonica to Pay $9.3B For Vivendi's Brazilian Telecom GVT
2014-09-20 13:45:37| Telecom - Topix.net
PARIS -- France's Vivendi has agreed to sell Brazilian telecommunications unit GVT to Telefonica for about 7.24 billion euros in cash and stock, striking a final deal in a two-year disposal program that has taken in more than $40 billion and transformed the former telecommunications giant into a media company. Spain's Telefonica will pay 4.66 million euros in cash, hand Vivendi a 7.4% stake, worth about 2.02 billion euros, in its Telefonica Brasil unit and a further 5.7% stake, worth about 1.01 billion euros, in Telecom Italia SpA.
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Category:Telecommunications