French media and telecoms group Vivendi has increased its stake in Brazilian telco GVT even further, taking its total shareholding up to 81.8%.
In early December, Vivendi upped its stake to 78.7%, following pressure from the country’s regulator to fulfil…
French media and telecoms group Vivendi has increased its stake in Brazilian telco GVT even further, taking its total shareholding up to 81.8%.
In early December, Vivendi upped its stake to 78.7%, following pressure from the country’s regulator to fulfil its promise to take full control of the Brazilian operator. Vivendi snapped up GVT in late 2009 for E2.8bn, beating rival bidder Telefonica in the eleventh hour.
Vivendi increased its stake to 81.8% after exercising all the purchase options it had ahead of the original schedule, for which the cut off date to exercise was February 17 2010.