KKR, Apax Said to Team Up for Vivendi’s GVT Against DirecTV

Private-equity firms including KKR & Co. and Apax Partners LLP are teaming up to bid against DirecTV to acquire Vivendi SA’s GVT phone unit in Brazil, people with knowledge of the matter said.

The group, which would also include Gavea Investimentos Ltda, owned by JPMorgan Chase & Co., and Cambuhy Investimentos Ltda is willing to pay as much as 5 billion euros ($6.8 billion) for the company, compared with Vivendi’s asking price of about 8 billion euros, said one of the people, who asked not to be named because the talks are private. Grupo BTG Pactual is still considering whether to join the bid, the people said.