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We’ve already talked about Telefonica-Portugal Telecom (PT) drama, as the Spanish group tries to consolidate its operations in Brazil with the idea to more closely integrate mobile operator Vivo with the underperforming Brazilian fixed-line arm Telesp.
As you know, PT refused Spanish offer and now we have Telefonica saying they may consider hostile takeover bid. “It [a hostile takeover bid] could always be revisited… We have never said ‘we will never go hostile’,” Santiago Fernandez Valbuena, Telefonica’s finance director, told the Financial Times.
Previously, Telefonica offered 5.7 billion EUR ($7.65 billion) for PT’s 50% shareholding in Brasilcel (owner of Vivo), which is a 109% premium to the stake’s fair value, according to Bernstein analysts. The word is this could end if Telefonica raises its offer by another billion or so. Telefonica now seems to be thinking that a hostile takeover could work just as well, without having to raise the bid.
We’ll definitely keep watching the Latin American mobile space and keep you folks in the loop. Stay tuned…
[Via: MobileBusinessBriefing]
About The Author
Dusan Belic
Dusan has been using smartphones since their introduction and is now following the latest trends in the industry. The "convergence" is what he's most excited about, and writing about it is the next logical thing to do. He thinks that using a smartphone is what everyone who cares about their time should do. In addition to his interests in mobile phones, Dusan also loves to experiment with the latest web and mobile 2.0 services. The idea of accessing and managing your information from any device no matter where you are simply amazes him. Whether it's an online to-do list, note taking service or a video sharing social network, he's there to try it out. He admits though, he's still searching for the ultimate web-based organizational tool, which "sings" perfectly with the mobile PIM application. Dusan used to run SymbianWatch.com which later became part of IntoMobile. He lives in Serbia, South-East Europe, from where he edits the site on a daily basis.
