Vivendi to Retain Share in Upcoming Sale of GVT, Folha Says
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A sale of Vivendi SA’s GVT phone unit in Brazil could occur within weeks, and Vivendi will retain a direct or indirect share in the company as part of the deal, newspaper Folha de S.Paulo reported.
The prospective deal has received approval from Brazil’s government, Folha reported, without saying where it obtained the information. In order meet Vivendi’s asking price of 19 billion reais ($9.6 billion), both groups vying for GVT would ask the French company to retain a stake, Folha said, citing unidentified executives involved in the talks.