GVT share price surges on latest Vivendi speculation

16 Oct 2009

Shares for Brazilian communications group GVT (Holding) SA have surged to a record high on the Sao Paulo bourse amid speculation that Vivendi plans to up its bid for the firm and trump the USD3.7 billion counter offer made by Telefonica of Spain. Shares in GVT, which is controlled by Global Village Telecom (Holland) BV and Swarth Group, rose 4.4% to BRL48.75 each, surpassing the BRL48 share price offer submitted earlier by Telefonica’s Brazilian unit Telecomunicacoes de Sao Paulo.

Brazil, Global Village Telecom (GVT), Vivendi