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Vivendi, Telefonica seal US$9.3b broadband deal

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Published Fri, Sep 19, 2014 · 04:00 PM

Paris

FRENCH media group Vivendi has closed the deal to sell its Brazilian broadband business GVT to Spain's Telefonica for cash and shares worth around US$9.29 billion, the companies announced on Friday.

Telefonica plans to fold GVT into its Vivo-branded Brazilian mobile phone business to create the country's biggest telecom group, Telefonica Brasil.

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