Telecom Italia Offers Wedding Ring to GVT:Carnevale

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Aug. 28 (Bloomberg) -- University Commerciale Luigi Bocconi’s Carlo Alberto Carnevale discusses the bidding war from Telefonica and Telecom Italia for GVT. He speaks with Jonathan Ferro on Bloomberg Television’s “On The Move.” (Source: Bloomberg)

Everyone wants to invite a brazilian for a dance.

Especially a company.

They were affected due to the consolidation of the sector.

We can compare value and industrial background of the proposals.

They could not be more different from one another.

Telefonica is an exit ticket and telecom is on the table.

There's an issue of personality and it is an important element to be taken.

There has been a long relationship.

There is an industrial and financial issue.

Like there is an issue on whether the unit is for sale or not.

Well, you know, that is in context.

The counterproposal of telefonica expires tomorrow and it is a tactical attempt to buy some time and negotiate further.

The offering has a longer expiration date and they want to put pressure to come to a quick decision.

Vivendi will take the necessary time for negotiating.

It is not just maximization of value.

In case they go for telecom for italian, it will be a defining operation for the next year because of the new industrial environment.

That is why i do not think the story will be over tomorrow.

Lester say that they do not get the wedding ring on the finger.

Where do they go next?

Brazil is a strategic asset for telecom italia and there are other options on the table.

Telecom italia cannot afford to lose a growth option available in its portfolio.

Brazil will stay on the screen for the next month, for sure and definitely for the next year.

They cannot lose important opportunities.

There was an issue.

The brazilian regulators have been picky and careful in granting a competitive environment.

The deals do not have the same regulatory impact.

I would say that it is another person invite it to the wedding and we have to see whether their reaction will be in favor of one option versus the other.

We will talk again.

Thank you for joining us this morning.

Thank you very much.

Let's turn to corporate earnings

This text has been automatically generated. It may not be 100% accurate.


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