Telefonica's Brazil Unit Bids BRL48 Per Share For GVT
October 07 2009 - 10:09AM
Dow Jones News
Telefonica SA's (TEF) Brazilian unit Wednesday made a bid for
telecommunications company GVT Holding SA (GVTT3.BR) as it looks to
expand its foothold in Brazil.
In a filing to the Spanish market regulator, Telefonica said it
would offer 48 Brazilian reals ($27.2) a share for GVT, which could
amount to a total investment of EUR2.55 billion.
Telefonica is Spain's largest telecommunications company by
market value and customers.
Company Web site: http://www.telefonica.com
-By Jason Sinclair, Dow Jones Newswires, 34 913958127,
jason.sinclair@dowjones.com