Telefonica Sees Up To EUR4.2 Billion Synergies From Brazil Operations Merger
October 01 2010 - 12:27PM
Dow Jones News
Spanish telecommunications giant Telefonica SA (TEF) said Friday
it forecasts between EUR3.3 billion and EUR4.2 billion in synergies
from merging mobile company Vivo Participacoes SA (VIV) and its
fixed-line company Telecomunicacoes de Sao Paolo S/A (TSP), or
Telesp.
Telefonica in July agreed to pay EUR7.5 billion to take over
Vivo, as the company looks to increase its presence in the
lucrative Brazilian market.
-By Jonathan House, Dow Jones Newswires; +34 91 395 8121;
jonathan.house@dowjones.com
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