Brazil Regulator Recommends Approval Of Vivendi Buy Of GVT

Date : 01/27/2011 @ 11:56AM
Source : Dow Jones News
Stock : Tele Norte Leste Participacoes S.A. Common Stock (TNE)
Quote : 10.99  0.0 (0.00%) @ 2:05AM

Brazil Regulator Recommends Approval Of Vivendi Buy Of GVT

Vivendi (EU:VIV)
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Brazilian telecommunications regulator Anatel on Thursday recommended approval of Vivendi SA's (VIV.FR) takeover of GVT Holding, which still has to be cleared by antitrust regulators.

Anatel had previously cleared the way for the purchase of GVT, approving a takeover of the company by Vivendi or rival Telefonica SA (TEF), which at the time was making a bid for the Brazilian operator of broadband and fixed-line telephone networks.

The analysis of the purchase by Vivendi now goes to Cade, as Brazil's antitrust regulator is known. The final approval may take some time, as the acquisition of Brasil Telecom by Tele Norte Leste Participacoes (TNE), or Oi, was approved only in October, two years after Oi acquired control of its rival.

-By Paulo Winterstein, Dow Jones Newswires; 55-11-3544-7073;


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