Pulse2 Technology and Social Media News » GVT http://pulse2.com Sat, 26 May 2012 21:27:32 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Vivendi Offers $2.9 Billion For GVT http://pulse2.com/2009/09/10/vivendi-offers-2-9-billion-for-gvt/ http://pulse2.com/2009/09/10/vivendi-offers-2-9-billion-for-gvt/#comments Thu, 10 Sep 2009 13:03:16 +0000 Amit Chowdhry http://pulse2.com/?p=20107 Continue reading →]]> Picture 11Picture 12
French entertainment company Vivendi has made a bid to acquire GVT, a major Brazilian telecommunications company.  If the acquisition takes place, Vivendi would become a major competitor of Telefónica of Spain.  Vivendi offered $22.95 per share (42 reais) to gain 100% of GVT’s capital.

According to Vivendi CEO Jean-Bernard Lévy, this acquisition would lift the earnings over the next year and will not affect the credit ratings or dividend policy.  Telefónica could counter the bid with a deal of their own.  Currently Telefónica has a 31% market share in Brazil.

GVT has a 4% market share with 2.3 million customers and $800 million revenue.  GVT’s controlling shareholders are the Swarth Group and Global Village Telecom.  They agreed to sell at least 20% of their outstanding shares.  Vivendi wants at least 51% ownership.

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