Vivendi offered $8bn for Brazilian DTH
December 3, 2012
By Chris Forrester
French media giant Vivendi is looking to exit its Brazilian DTH pay-TV operation. Global Village Telecom (GVT) also operates fixed phone and broadband services in Brazil. Vivendi says it is now considering 4 rival bids to buy the business for about $7.75 billion, although the bids are less than originally anticipated. GVT has 312,000 subscribers despite launching less than a year ago.
DirecTV, America Movil and private equity funds are said to be interested in acquiring the business. However, Vivendi is reportedly still to be seeking nearer $8.9 billion for the assets, which are well-regarded in Brazil. Another bid is expected from Telecom Italia following a December 6th Board Meeting of the Italian company. Liberty Global is reported to have examined the assets but has not made a bid.