Three consortiums, namely Apax, DirecTV, and KKR funds (including Gavea and Cambuhy Investimentos), have been highlighted as the frontrunners in the race to purchase Brazilian altnet Global Village Telecom (GVT) from Vivendi of France. Local newspaper Valor Economico adds that another group – BTG Pactual – has declined to bid, possibly due to the high asking price.
The Brazilian altnet is active in 136 cities across the country where it offers fixed telephony, broadband internet and voice-over-internet protocol (VoIP) to residential and business users. In November 2012, TeleGeography’s CommsUpdate reported that another Brazilian telco, Oi SA, had also confirmed its interest in acquiring GVT. Vivendi hopes to raise at least EUR7 billion (USD9.25 billion) from the sale of its Brazilian fixed and broadband asset.