Vivendi Would Probably Accept >EU7b Bid for GVT If All Cash: UBS
2014-08-06 06:39:54.191 GMT
By Blanche Gatt
Aug. 6 (Bloomberg) -- Vivendi response to Telefonica offer
for GVT may imply co. will “sit back” and wait for alternative
bid from Telecom Italia, UBS says in note.
* NOTE: Vivendi said no assets for sale, will consider the bid
* UBS (neutral) says Vivendi likely to accept offer of >EU7b
if all in cash
* Says Telecom Italia reported to be seeking to merge TIM
Brasil with GVT, though Telecom Italia would need rights
issue to fund a deal
* L/T, sees GVT “non-core” to Vivendi; pending sale of
SFR means co. not under pressure to divest assets in S/T
* NOTE yday: Telefonica’s GVT bid positive for Vivendi shrs,
analysts say
* Yday: Vivendi supervisory board to meet end Aug.:
Liberum
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To contact the reporter on this story:
Blanche Gatt in London at +44-20-7392-0351 or
bgatt@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
Andrew Rummer
2014-08-06 06:39:54.191 GMT
By Blanche Gatt
Aug. 6 (Bloomberg) -- Vivendi response to Telefonica offer
for GVT may imply co. will “sit back” and wait for alternative
bid from Telecom Italia, UBS says in note.
* NOTE: Vivendi said no assets for sale, will consider the bid
* UBS (neutral) says Vivendi likely to accept offer of >EU7b
if all in cash
* Says Telecom Italia reported to be seeking to merge TIM
Brasil with GVT, though Telecom Italia would need rights
issue to fund a deal
* L/T, sees GVT “non-core” to Vivendi; pending sale of
SFR means co. not under pressure to divest assets in S/T
* NOTE yday: Telefonica’s GVT bid positive for Vivendi shrs,
analysts say
* Yday: Vivendi supervisory board to meet end Aug.:
Liberum
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Blanche Gatt in London at +44-20-7392-0351 or
bgatt@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
Andrew Rummer