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Investors ask did Vivendi overpay for GVT?

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Investors ask did Vivendi overpay for GVT?

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Vivendi’s shares fell in Paris on Monday as investors worry it had overpaid to snatch Brazilian telecom company GVT from under the nose of Spain’s Telefonica.

Vivendi – which previously has been cautious about such pricy deals – has bought a controlling stake in GVT for one point six billion euros and wants to buy all the shares. The purchase gives it a foothold in Latin America’s biggest telecoms market.