Telefónica seals GVT deal and targets Brazil’s telecom market

DetailsJuan Fernandez Gonzalez | 31 May 2015




Telefónica Brasil has become Brazil's leading integrated operator - both in terms of customers (over 105 million subs) and revenue - following its purchase of Global Village Telecom (GVT) from Vivendi.


The new Telefónica Brasil now has national coverage and leads the mobile business and fixed ultra-broadband, while becoming the country's third pay-TV player. The company now has one of the best network infrastructures in Brazil, an innovative digital portfolio, and HD TV offer combined with video on demand (VOD) content, interactive applications and multi-device content.

The deal was finalised at a total of €4.66 billion, as well as the handover of 12% of the share capital of the new Telefónica Brasil. In the coming weeks Vivendi will exchange 4.5% of this interest for 8.3% of the ordinary shares of Telecom Italia, according to the terms agreed before.

Telefónica Brasil's board of directors and shareholders' meeting have approved the appointment of Amos Genish as the company's new executive chairman. He has been chosen to lead the integration process of both companies and to define a clear strategy for the future that is entirely focused on clients.


Read more: Telefónica seals GVT deal and targets Brazil’s telecom market | News | Rapid TV News http://www.rapidtvnews.com/201505313...#ixzz3binapv6P