Telecom Italia offer for GVT to be one-third cash and two-thirds shares
Telecom Italia's (TI) offer for GVT, the fixed-line Brazilian telco owned by French media group Vivendi will be one-third cash and two-thirds shares, Italian-language daily Il Messaggero reported.
The unsourced report said that the share component would come from both TI and Tim Brasil, the Brazilian mobile phone subsidiary of TI via two capital increases reserved for Vivendi.
The article further said that based on a valuation of EUR 7.2bn for GVT, Vivendi would receive shares in TI and Tim Brasil totalling EUR 4.8bn and a cash payment of EUR 2.4bn.
An unsourced item in Il Corriere della Sera claimed that TI's CEO, Marco Patuano is to meet with Vivendi's Chairman, Vincent Bollore today 22 August in Sardinia.
Source Il Messaggero, Il Corriere della Sera