Satellite company DirecTV, John Malone’s Liberty Global, Carlos Slim’s America Movil and a group of private equity funds have entered non-binding bids to acquire GVT, the Brazilian broadband unit of French conglom Vivendi. The offers are each more than 6B euros ($7.79B), but are less than the 7B euros Vivendi was seeking, according to Reuters. Vivendi, which owns pay-TV giant Canal Plus, has been looking to divest of some telecom assets as it focuses on developing its content and media businesses. GVT provides fixed telephone, broadband and TV services in 120 Brazilian cities. Among the bidders, America Movil owns Brazil’s third-largest mobile operator Claro and DirecTV’s Sky Brasil holds about 30% of the pay-TV market. Final bids are expected by early January, Reuters said.
DirecTV, Liberty Global Among Bidders For Vivendi’s Brazilian Broadband Unit: Report
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