Telecom Italia To Go Ahead With Bid For Vivendi’s GVT
Telecom Italia will make a bid valued at roughly 7 billion euros ($9.2 billion) for Vivendi’s Brazilian broadband unit GVT , which would leave Vivendi with a 15 to 20 percent stake in the Italian group. Telecom Italia is competing with Spain’s Telefonica for control of GVT, which sells high-end broadband and pay-TV packages to consumers in Brazil. Brazil is crucial for both Telefonica and Telecom Italia, because its market still has growth potential, especially in broadband and pay-TV, compared with the more mature market in Europe.
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