French telecoms and media firm Vivendi announced at the end of last week that it will acquire the remaining outstanding shares in Brazilian operator GVT Holding that it does not already own to take full control of the business.
Vivendi currently holds an…
French telecoms and media firm Vivendi announced at the end of last week that it will acquire the remaining outstanding shares in Brazilian operator GVT Holding that it does not already own to take full control of the business.
Vivendi currently holds an 85.73% stake in GVT but it is now set to take this to 100% through a public tender offer valued at approximately US$550m.
The French firm will offer BRL56 per share for the 17.78% stake it does not already own. The tender offer is set to take place on the Sao Paolo stock exchange on April 27, after which GVT will be delisted.
