Brazil agency says Telefonica offers to sell Telecom Italia stake

Reuters

Wed, Mar 25, 2015, 10:48 AM

BRASILIA, March 25 (Reuters) - An official at Brazilian antitrust watchdog Cade said on Wednesday that Telefonica SA had offered to sell its stake in Telecom Italia SpA within 4 months of signing an accord with the agency.

Telefonica and its Brazilian unit are awaiting Cade approval before they carry out a share offering to pay for the 7.2 billion-euro ($7.79 billion) acquisition of Vivendi SA's broadband unit GVT.

(Reporting by Leonardo Goy; Editing by Chizu Nomiyama)

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Brazil agency says Telefonica offers to sell Telecom Italia stake

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