A week to finalize the maxi-offer by € 7 billion for Gvt, The Brazilian operator of fixed telephony, internet and pay-TV controlled by the French media conglomerate Vivendi, and beat the competition of the shareholder (outgoing) Telefonica. For Telecom Italy and its advisor (Mediobanca, Citi and Bradesco) the time has come to tighten on the proposal, which must be delivered to the group trans. To convince Vivendi to confer Gvt in Italy Telecom CEO Marco Patuano – according to rumors – would be willing to offer a 20% share of Telecom that would make the French, led by Chairman Vincent Bolloré, the new shareholder of the former monopolist Italian. In addition to participation, Vivendi would hold a direct stake in Gvt that Telecom will merge with its Tim Brasil, the second largest mobile operator in Brazil, creating an integrated fixed-mobile-Internet are able to take full advantage of the growth opportunities of the immense market carioca . For Vivendi, which will offer a strategic partnership in the distribution of content, there is also the opportunity to find new outlets for the contents of its subsidiary Universal Music and Canal +. On August 28, the board of directors of Vivendi will examine the proposal came from Telefonica: Gvt to detect 6.7 billion, of which 4 in cash and the remainder represented by 12% of Telefonica Brasil (where Gvt will be integrated with Vivo, the first mobile operator country). The French, while reserving the right to evaluate the offer, have already indicated that its assets are not for sale. The proposal of the Spanish, who do not seem to have warmed the hearts in Paris, but will not be the only one on the table. Before 28 August will be reunited even the board of directors of Brasil Telecom and Tim (we are talking of 25 August), to approve the Italian plan, the base of which would seem to be more in tune with integration projects with the tlc of Vivendi and could enjoy the support Bollorè, historical shareholder of Mediobanca. The market already speculating on a possible revival of the Spaniards who, if they could get their hands on Gvt, solve problems antitrust in Brazil and would free the remaining stake in Telecom (8.3%), making available to the French. “We do not exclude that Telefonica could improve its offer for Gvt” noted analysts at Banco Sabadell. About Vivendi is overjoyed that, after observing Gvt in 2009 to 7.7 billion reals (blowing it right at Telefonica), now you see the offer three times the amount invested by the prospect of a bidding war.
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