Telefonica Board Said to Discuss Improving Bid for Vivendi’s GVT
2014-08-26 07:31:32.231 GMT
By Daniele Lepido and Rodrigo Orihuela
Aug. 26 (Bloomberg) -- Telefonica SA’s board plans to
discuss boosting its offer for GVT to value Vivendi SA’s
Brazilian broadband unit at as much as 8 billion euros ($10.6
billion), according to a person with knowledge of the matter.
The new bid could be presented before Vivendi’s board
gathers Aug. 28, and before Telecom Italia SpA puts forward a
formal rival bid, the person said, asking not to be identified
because the deliberations are confidential. Telefonica this
month offered 6.7 billion euros, mostly in cash, for GVT.
No final decision has been made, and Telefonica’s board
could decide to stick with its current offer, the person said.
A representative for Madrid-based Telefonica declined to
comment.
For Related News and Information:
Telefonica Offers $9 Billion for Vivendi Brazilian Unit GVT
NSN N9UCSF6TTDSH <GO>
Telecom Italia Said to Prepare GVT Bid of Up to $9.4 Billion
NSN NAIUIL6S972D <GO>
Goldman, Credit Suisse Said to Work With GVT on Sale Process
NSN NAEUZY6K50XS <GO>
Top Technology Stories: TTOP <GO>
Bloomberg Industries: BI TELC <GO>
To contact the reporters on this story:
Daniele Lepido in Milan at +39-02-8064-4266 or
dlepido1@bloomberg.net;
Rodrigo Orihuela in Madrid at +34-91-700-9647 or
rorihuela@bloomberg.net
To contact the editors responsible for this story:
Kenneth Wong at +49-30-70010-6215 or
kwong11@bloomberg.net
Ville Heiskanen
2014-08-26 07:31:32.231 GMT
By Daniele Lepido and Rodrigo Orihuela
Aug. 26 (Bloomberg) -- Telefonica SA’s board plans to
discuss boosting its offer for GVT to value Vivendi SA’s
Brazilian broadband unit at as much as 8 billion euros ($10.6
billion), according to a person with knowledge of the matter.
The new bid could be presented before Vivendi’s board
gathers Aug. 28, and before Telecom Italia SpA puts forward a
formal rival bid, the person said, asking not to be identified
because the deliberations are confidential. Telefonica this
month offered 6.7 billion euros, mostly in cash, for GVT.
No final decision has been made, and Telefonica’s board
could decide to stick with its current offer, the person said.
A representative for Madrid-based Telefonica declined to
comment.
For Related News and Information:
Telefonica Offers $9 Billion for Vivendi Brazilian Unit GVT
NSN N9UCSF6TTDSH <GO>
Telecom Italia Said to Prepare GVT Bid of Up to $9.4 Billion
NSN NAIUIL6S972D <GO>
Goldman, Credit Suisse Said to Work With GVT on Sale Process
NSN NAEUZY6K50XS <GO>
Top Technology Stories: TTOP <GO>
Bloomberg Industries: BI TELC <GO>
To contact the reporters on this story:
Daniele Lepido in Milan at +39-02-8064-4266 or
dlepido1@bloomberg.net;
Rodrigo Orihuela in Madrid at +34-91-700-9647 or
rorihuela@bloomberg.net
To contact the editors responsible for this story:
Kenneth Wong at +49-30-70010-6215 or
kwong11@bloomberg.net
Ville Heiskanen