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Telefonica SA called its initial bid for Portugal Telecom SGPS SAs stake in Vivo Participacoes SA of Brazil fair, full and final. Chairman Cesar Alierta paid 1.8 billion euros ($2.3 billion) more to close the deal.
Telefonica yesterday agreed to spend 7.5 billion euros in cash on Portugal Telecoms holding in their 50-50 venture that controls Vivo, Brazils largest wireless operator. That was 32 percent more than the 5.7 billion euros Alierta first offered.
Telefonica SA called its initial bid for Portugal Telecom SGPS SAs stake in Vivo Participacoes SA of Brazil fair, full and final. Chairman Cesar Alierta paid 1.8 billion euros ($2.3 billion) more to close the deal.
Brazilian telecommunications company Oi says it is forming a strategic partnership with Portugal Telecom by selling it a minority stake. Brazil - Portugal Telecom - Portugal - Travel and Tourism - South America
Portugal Telecom SGPS SA agreed to buy a stake in Telemar Norte Leste SA to remain in the Brazilian telecommunications market as it sells its shares in the countrys biggest mobile-phone operator to Telefonica SA.
Portugal Telecom SGPS SA agreed to sell its stake in a joint venture that controls Vivo Participacoes SA to Telefonica SA for 7.5 billion euros, the company said in a regulatory filing
Telemar Participacoes SA said Portugal Telecom SGPS SA agreed to pay 8.44 billion reais for a 22.4 percent stake in Telemar Norte Leste SA.
Telefonica SA reached an initial agreement to buy Portugal Telecom SGPS SAs stake in Brazils Vivo Participacoes SA after raising its bid a third time to 7.5 billion euros ($9.8 billion), people close to the talks said.
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