BFW 03/25 15:09 *TELEFONICA'S GVT TAKEOVER APPROVED BY BRAZIL CADE W/RESTRICTION
BN 03/25 15:08 *TELCO BREAKUP APPROVED BY BRAZIL'S CADE
BN 03/25 15:08 *TELCO BREAKUP APPROVED BY BRAZIL'S CADE
Telefonica’s GVT Takeover Approved by Brazil Cade W/Restrictions
2015-03-25 15:14:16.952 GMT
By Anna Edgerton and Christiana Sciaudone
(Bloomberg) -- Brazil antitrust regulator, known as Cade,
also approved Telco SpA breakup; announcements made after voting
session in Brasilia today.
* Restrictions include:
* Telefonica can’t hold stake in Telecom Italia
* Vivendi can’t have influence in Telefonica Brasil or
increase stake in co.
* Vivendi can’t have influence in Telefonica Brasil or
increase stake in co.</li></ul>
* Vivendi committed to reducing its influence and not share
information of Telefonica and Telecom Italia: Cade
* NOTE: March 20: Telefonica renounced definitively all
“political rights” related to TI Link
* NOTE: Feb. 18: Cade technical team recommended deal to be
approved w/restrictions; also recommended approval of
separate deal involving breakup of holding co. Telco, which
has stake in Telecom Italia Link
* Telefonica owns stake in Telco and would hold direct
stake in Telecom Italia once Telco is dissolved
* Telefonica to use Telecom Italia stake as part of
payment to Vivendi for GVT
* Deals, once approved, will result in Vivendi holding
direct stake in both Telefonica Brasil and Telecom
Italia
* Deals, once approved, will result in Vivendi holding
direct stake in both Telefonica Brasil and Telecom
Italia</li></ul>
* NOTE: Telefonica Brasil said to plan 1.26b-euro share sale
to back its Spanish parent in GVT takeover, people with
knowledge of the matter told Bloomberg News on March 19 Link
* NOTE: Telefonica agreed to buy GVT from Vivendi for 7.7b
euros last yr
Link to Company News:{GVTT3 BZ <Equity> CN <GO>}
Link to Company News:{TEF SM <Equity> CN <GO>}
Link to Company News:{VIV FP <Equity> CN <GO>}
Link to Company News:{VIVT4 BZ <Equity> CN <GO>}
Link to Company News:{TIT IM <Equity> CN <GO>}
Link to Company News:{TIMP3 BZ <Equity> CN <GO>}
For Related News and Information:
First Word scrolling panel: {FIRST<GO>}
First Word newswire: {NH BFW<GO>}
To contact the reporter on this story:
Anna Edgerton in Brasilia at +55-61-3329-1614 or
aedgerton@bloomberg.net
To contact the editor responsible for this story:
Katerina Petroff at +44-20-3525-0733 or
kpetroff@bloomberg.net
2015-03-25 15:14:16.952 GMT
By Anna Edgerton and Christiana Sciaudone
(Bloomberg) -- Brazil antitrust regulator, known as Cade,
also approved Telco SpA breakup; announcements made after voting
session in Brasilia today.
* Restrictions include:
* Telefonica can’t hold stake in Telecom Italia
* Vivendi can’t have influence in Telefonica Brasil or
increase stake in co.
* Vivendi can’t have influence in Telefonica Brasil or
increase stake in co.</li></ul>
* Vivendi committed to reducing its influence and not share
information of Telefonica and Telecom Italia: Cade
* NOTE: March 20: Telefonica renounced definitively all
“political rights” related to TI Link
* NOTE: Feb. 18: Cade technical team recommended deal to be
approved w/restrictions; also recommended approval of
separate deal involving breakup of holding co. Telco, which
has stake in Telecom Italia Link
* Telefonica owns stake in Telco and would hold direct
stake in Telecom Italia once Telco is dissolved
* Telefonica to use Telecom Italia stake as part of
payment to Vivendi for GVT
* Deals, once approved, will result in Vivendi holding
direct stake in both Telefonica Brasil and Telecom
Italia
* Deals, once approved, will result in Vivendi holding
direct stake in both Telefonica Brasil and Telecom
Italia</li></ul>
* NOTE: Telefonica Brasil said to plan 1.26b-euro share sale
to back its Spanish parent in GVT takeover, people with
knowledge of the matter told Bloomberg News on March 19 Link
* NOTE: Telefonica agreed to buy GVT from Vivendi for 7.7b
euros last yr
Link to Company News:{GVTT3 BZ <Equity> CN <GO>}
Link to Company News:{TEF SM <Equity> CN <GO>}
Link to Company News:{VIV FP <Equity> CN <GO>}
Link to Company News:{VIVT4 BZ <Equity> CN <GO>}
Link to Company News:{TIT IM <Equity> CN <GO>}
Link to Company News:{TIMP3 BZ <Equity> CN <GO>}
For Related News and Information:
First Word scrolling panel: {FIRST<GO>}
First Word newswire: {NH BFW<GO>}
To contact the reporter on this story:
Anna Edgerton in Brasilia at +55-61-3329-1614 or
aedgerton@bloomberg.net
To contact the editor responsible for this story:
Katerina Petroff at +44-20-3525-0733 or
kpetroff@bloomberg.net