Telecom Italia CEO meets Vivendi boss to discuss GVT deal

14 Aug 2014

Marco Patuano, the chief executive officer of Telecom Italia (TI), met Vivendi chairman Vincent Bollore yesterday to discuss a possible offer for the French media group’s Brazilian telecoms unit Global Village Telecom (GVT). According to two unnamed sources with knowledge of the matter, whilst no formal bid is on the table, TI is proposing to merge its own Brazilian operation – TIM Participacoes (TIM Brasil) – with GVT, in return for which Vivendi would take a stake in the Italian group. The source said that TI would not look to launch a capital increase to fund the deal, while it remains to be seen whether a capital increase will be needed at TIM Brasil. If realised, the proposal would fly in the face of market predictions that a cash call would be required to fund the purchase for GVT, Reuters reports. The Italian firm has been disposing of assets in Argentina and elsewhere of late, to help fund costly network investments. TI is however, looking to prevent rival Telefonica from acquiring GVT and could submit a formal offer to Vivendi by the end of the month, one source said.

Brazil, Italy,Telecom Italia, Global Village Telecom (GVT), TIM Participacoes (TIM Brasil), Vivendi,

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share