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Telefonica explores alternatives for Vivo

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Telefonica explores alternatives for Vivo

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Spain’s Telefonica is reportedly looking into forcing a breakup of its Brazilian mobile phone joint venture Vivo.

That move comes after Telefonica gave up on trying to buy out its partner Portugal Telecom.

A 7.15 billion euro bid offer expired over the weekend.

A breakup of the joint venture could allow Telefonica to buy PT’s stake in Vivo on the Brazilian stock exchange.