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
What's Hot on Deadline
'Justice League' Currently Stumbling With $97M+ Opening: Are 'Wonder' & 'Thor' Cutting Into Business?
Sony Pictures Confirms Quentin Tarantino Deal; Margot Robbie, Tom Cruise, Brad Pitt, Leonardo DiCaprio Circling
Ryan Eggold, Who Played Fan Favorite Tom Keen In 'The Blacklist,' Joins Spike Lee's 'Black Klansman'
Actress Accuses 'Girls' EP Murray Miller Of Sexual Assault; Showrunners Lena Dunham & Jenni Konner Defend Him - Update
Latest International News
- AT&T-Time Warner Merger Antitrust Review Casting Pall Over Fox Talks
- ‘Justice League’ Unites $27.3M After Two Days At International Box Office
- Warner Bros Launches China Exchange Program With Casting, Management Focus
- ‘White Sun’ EP Danny Glover On The Hope Children Bring For The Future Of The Political Process
- Streaming Service BritBox Launches Xmas Specials and Simulcasts UK Shows
- Al Franken Apologizes After Radio Host Posts Photo Of Him Groping Her During ’06 USO Trip