GVT Shareholders May Waive Poison Pills, CEO Says
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GVT Holding SA’s minority shareholders will probably agree to remove so-called poison pills to allow a $2.9 billion takeover by Vivendi SA, the Brazilian telephone company’s chief executive officer said.
The “majority of the minority shareholders asked us to remove the poison pills” after controlling investors announced plans to sell stock on Sept. 1, GVT’s Amos Genish said in a telephone interview yesterday from Curitiba. Paris-based Vivendi yesterday offered 42 reais a share for GVT, valuing the company at 5.4 billion reais ($2.9 billion).