Spanish carrier Telefónica said Wednesday that it has finally reached an agreement with Portugal Telecom over the acquisition of Brazilian operator Vivo.
Brazilian operators Vivo and Oi have selected their suppliers for their LTE networks. Vivo, Telefônica subsidiary in the country, has announced that Swedish vendor Ericsson will supply and implement its 4G network in the North and Mid-Western regions of Brazil, as well as the states of São Paulo, Minas Gerais, Bahia and Sergipe.
Spanish and Latin American carrier Telefonica’s acquisition of Vivo will have a significant impact on the Brazilian market, most notably giving the company the platform it needs to launch convergent services.
Spanish incumbent operator Telefónica is still chasing its Brazilian dream after the European Court of Justice ruled that the Portuguese Government’s use of a so called ‘golden share’ to block Telefónica’s acquisition of Vivo was unlawful.
Spanish and Latin American carrier Telefónica has seen its designs on Brazil trashed after the Portuguese government blocked the acquisition of Portugal Telecom’s stake in Vivo.
Spanish incumbent and Latin American carrier Telefónica has sold eight per cent of its ten per cent stake in Portugal Telecom (PT) amid fears it will not be allowed to vote as a PT shareholder on the acceptance of its offer to buy PT out of Brasilcel,which controls Brazilian mobile player Vivo .
The tussle for control of leading Brazilian mobile player Vivo between Portugal Telecom and Spain’s Telefónica reflects the huge importance of the market to both European players.
Portugal Telecom has denied that Telefonica is able to block dividends from the two operators’ Brazilian joint venture Vivo as analysts warn that the Portugese incumbent cannot afford to lose its presence in the high growth Brazilian market.
Latin American operator, America Movil, has launched its $21.8bn bid for control of three other regional telecoms firms. It sounds like big money but given that America Movil’s top man is none other than Carlos Slim Helu, the richest man in the world, such moves are to be expected.
Spanish carrier Telefonica confirmed on Wednesday that it has held discussions with Portugal Telecom on the acquisition of the Portuguese company’s 50 per cent share in Brazilian operator Vivo but denied it has reached an agreement. The revelation came after rising speculation that a deal hinges on whether Portugal Telecom can substitute its half of [...]