Vivo looking to up local holdings

25 Aug 2004

Vivo, the Brazilian cellco co-owned by Telefónica Móviles and Portugal Telecom, has offered BRL1.52 billion to boost its stakes in four of its domestic businesses, as its parents look for growth alternatives to their saturated European markets. Vivo unit Telesp Celular has offered to invest BRL901.5 million in shares in its Tele Centro Oeste subsidiary, whilst Vivo has directly offered to buy common and preferred shares in Tele Leste Celular Participacoes (for as much as BRL116.8 million), Celular CRT Participacoes (BRL352.3 million) and Tele Sudeste Celular Participacoes (BRL145.6 million).

Brazil, Celular CRT Participaçoes, Tele Centro Oeste Celular, Tele Leste Celular Participaçoes, Tele Sudeste Celular Participaçoes, Telesp Celular