Vivendi Buys Up Outstanding Shares In Brazil Telecom GVT
April 27 2010 - 5:19PM
Dow Jones News
French media and telecom company Vivendi SA (VIVDY, VIVEF,
VIV.FR) announced Tuesday that it acquired nearly all shares in
Brazilian telecom operator GVT Holding S.A. (GVTT3.BR) during a
tender offer and will start the process of delisting the firm.
Vivendi bought 16.6 million shares in GVT in an operation worth
967 million Brazilian reals ($549.4 million, according to
preliminary stock market data.
As a result, Vivendi now controls 99.2% of the stock.
At the end of last year, Vivendi acquired control of GVT.
-By Alastair Stewart, Dow Jones Newswires; 5511 3544 7072;
alastair.stewart@dowjones.com
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