Telefonica raises bid for Vivendi's Brazilian unit GVT by approx 11% to €7.45B (includes €4.66B in cash)
- The offer inlcudes a 12% sake in Telefonica Brasil
- Telefoncia plans to finance the offer through a capital hike at Telefonica Brasil and parent Telefonica.
**Note: The Telefonica offer is approx 6% above Telecom Italia's offer for GVT.
The offer is comprised of 24% cash and approx 76% in shares.
- The offer is valid until Sept 20th.