Brazilian operator Oi has denied a local media report that it is currently considering a bid for Vivendi’s GVT, telling the Brazilian bourse that it was not interested in the asset.
In a statement to the stock exchange, Oi noted that it was always…
Brazilian operator Oi has denied a local media report that it is currently considering a bid for Vivendi’s GVT, telling the Brazilian bourse that it was not interested in the asset.
In a statement to the stock exchange, Oi noted that it was always examining new business opportunities “including the acquisition of interests in telecommunications companies”.
The company added, according to a translated version of the statement posted on the company’s website: “In specific regard to GVT, the current financial conditions of the business were not of interest to the company.”
It is understood that Oi considers Vivendi’s €7bn (US$8.9bn) valuation of the Brazilian fixed-line and broadband unit as too high.
