French media company Vivendi (VIV.PA) picked Telefonica (TEF.MC) for exclusive talks over the sale of its Brazilian broadband unit GVT, spurning a rival bid from Telecom Italia (TLIT.MI).
The battle over Brazil's telecoms market intensified on Thursday as European competitors Telecom Italia and Telefonica made rival offers for Vivendi's Brazilian broadband business GVT.
The battle over Brazil's telecoms market is heating up, with the country's biggest fixed-line firm Oi signaling it may make an offer for Telecom Italia's local mobile business.
France-based multinational mass media and telecommunication firm Vivendi took a pause from big acquisitions to decide on how to spend the remaining USD14 billion from asset sales after cutting debt.
Vivendi's sale of GVT postponed due to lukewarm price offers.