Telefonica’s Brazilian unit has priced a share offering to fund its US$9.3bn acquisition of local broadband provider GVT.
In a statement, the company said it priced 236 million preferential shares at R$47(US$16.12) per share and 121 million common…
Telefonica’s Brazilian unit has priced a share offering to fund its US$9.3bn acquisition of local broadband provider GVT.
In a statement, the company said it priced 236 million preferential shares at R$47(US$16.12) per share and 121 million common shares at R$38.47 (US$13.18) per share.
Itau BBA, Morgan Stanley, BofA Merrill Lynch and Santander are acting as global coordinators, while Bradesco BBI, BTG Pactual, Credit Suisse, Goldman Sachs, HSBC and JP Morgan are acting as joint bookrunners in connection with the international offering.
Earlier this month, the Madrid-based telco said that the €3bn rights issue was more than three times oversubscribed.
The capital increase was executed after Brazilian antitrust regulator Cade cleared the takeover, imposing a number of remedies to address competition concerns.
Telefonica announced its plans for a rights issue at the end of February as part of the cash-and-stock consideration.
