Telefonica:Vivo,Telesp Deal To Create EUR3.3 Billion-EUR3.9 Billion In Value
July 29 2010 - 9:14AM
Dow Jones News
Telefonica SA (TEF) said Thursday it will be able to unlock
between EUR3.3 billion and EUR3.9 billion from merging mobile
company Vivo Participacoes SA (VIV) and its fixed-line company
Telecomunicacoes de Sao Paolo S/A (TSP), or Telesp.
In a presentation to investors, Telefonica said the savings
would come from operating synergies, an integrated operating model,
and financial and tax synergies between the two companies.
Telefonica Wednesday agreed to pay EUR7.5 billion to take over
Vivo, as the company looks to increase its presence in the
lucrative Brazilian market.
Telefonica is Spain's largest telecommunications company by
market value and customers.
-By Jason Sinclair, Dow Jones Newswires; 34 913958127;
jason.sinclair@dowjones.com
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