Telefónica mulls purchase of PT's Vivo stake

30 May 2006

The president of Telefónica, César Alierta, has confirmed that the Spanish company is interested in acquiring full control of Brazil’s largest mobile operator Vivo, by purchasing the 50% held by Portugal Telecom. Alierta told analysts that if he could get the right price, Telefónica would buy the other half of Vivo, acting through its mobile operation Telefónica Móviles, which holds the other 50% of Vivo. The Portuguese operator’s stake in Vivo is estimated at EUR3 billion.

Brazil, Spain, Telefonica, Telefonica Moviles Espana (Movistar)