Telefonica Agrees €7.2B Deal for Vivendi’s Broadband Unit in Brazil

Telefonica Agrees €7.2B Deal for Vivendi’s Broadband Unit in Brazil

Telefonica signed a €7.2 billion cash and stock deal with Vivendi to acquire GVT, the French conglomerate’s broadband business in Brazil, which also sees the Spanish and Latin American giant relinquish its shares in Telecom Italia.

As part of the agreement, struck after nearly a month of exclusive negotiations between the two firms, Vivendi gets a cash consideration of €4.66 billion and a 7.4 per cent stake in Telefonica Brasil, worth €2.02 billion as of 18 September.

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