Anatel rubber stamps Vivendi’s GVT buyout

Brazil’s national telecoms regulator Anatel yesterday recommended approval of Vivendi’s takeover of GVT Holding, controller of local telco Global Village Telecom (GVT), although the plan still has to be cleared by antitrust regulators. The watchdog previously gave the green light to the acquisition and in December last year, Vivendi reached a final agreement with Brazil’s stock market regulator CVM. At the time it was reported that Vivendi agreed to pay the regulator approximately EUR67 million (USD89 million) to conclude an investigation opened by the watchdog following Vivendi’s acquisition of the Brazilian firm. With no attribution of any ‘wrongdoing’ on the French firm’s part, the decision drew to a close a matter that had rumbled on for more than a year. However, the matter of the purchase by Vivendi now goes to Cade, Brazil’s antitrust regulator.