Brazil Gives Informally Assents to Vivendi's Sale of GVT -Report
February 24 2013 - 3:12PM
Dow Jones News
SAO PAULO--Brazil's government has given informal approval for
France's Vivendi SA (VIV.FR, VIVEF, VIVHY) to sell a stake in its
Brazilian unit, GVT, according to a report in the Folha de S. Paulo
newspaper. Vivendi is speeding up talks with two groups, U.S.-based
DirecTV (DTV) and a consortium of investment funds led by KKR &
Co. LP (KKR) and that includes Gavea Investimentos, of J.P. Morgan
Chase & Co. (JPM), the report said. Vivendi is seeking 19
billion Brazilian reais ($9.63 billion) for the firm, and may have
to accept a share swap as part of a deal, the report said. DirecTV
has offered around BRL15 billion, the report said.
On the web: www.folha.com.br
Write to the Brazil bureau at brazil@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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