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Vivendi bids for Brazil's GVT

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Vivendi bids for Brazil's GVT

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French entertainment and telecoms group Vivendi is offering two billion euros in an amicable takeover bid for Brazilian phone operator GVT.

If the deal goes through it would put Vivendi head-to-head with Spain’s Telefonica which has stakes in mobile and fixed line companies in Latin America’s biggest phone market. Some analysts said Telefonica would be a better fit with GVT and there could be a counterbid from the Spanish.