View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
  2. Data
March 15, 2013

Vivendi suspends sale of Brazil Unit GVT

French media and telecoms giant Vivendi has decided to retract bidding of its Brazilian telecommunications operator GVT.

By CBR Staff Writer

The company had been seeking about €7bn in an all-cash deal for the business, but received bids lower than it had hoped for.

Vivendi spokesman Simon Gillham was cited by the Wall Street Journal saying the company has decided not to sell for "silly prices".

"We’re absolutely convinced we have a great asset, we’re very happy to continue developing it within the Vivendi family," Gillham said.

Vivendi’s move comes as satellite-TV operator DirecTV, which had been one of the prime bidders, decided to walk away from bidding.

The other bidder for GVT was a consortium of private equity firms led by KKR that offered a lower price compared to DirecTV.
GVT had been put under the hammer in summer 2012 as Vivendi reassessed its business portfolio in mobile telephony, video games and music.

Vivendi is also reported to be seeking a purchaser for its controlling stake in Maroc Telecom.

Content from our partners
Unlocking growth through hybrid cloud: 5 key takeaways
How businesses can safeguard themselves on the cyber frontline
How hackers’ tactics are evolving in an increasingly complex landscape

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU