Vivendi to acquire Brazil’s GVT
By Dusan Belic on Friday, September 11th, 2009 at 2:14 AM PST In General
Vivendi SA, owner of France’s mobile operator SFR, will offer 2 billion EUR (about $2.9 billion) to acquire Brazilian Internet and telecommunications company GVT SA. According to the French media and entertainment company, GVT’s controlling shareholders, Swarth Group and Global Village Telecom, have agreed to sell at least 20% of GVT to Vivendi for 42 reals ($22.9) a share. Once that is completed, Vivendi will launch a public tender offer for the rest of GVT’s shares by the end of the year.
For the record, with annual sales growth of 31.1% between 2006 and 2008, GVT is Brazil’s fastest-growing telecommunications service provider. GVT made sales in the fiscal year ending June 30 of about 1.5 billion Brazilian reals ($800 million) and had about 2.3 million lines in service at the end of June…
[Via: CellularNews]
