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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Blackrock Apex Municipal Fund, | NYSE:APX | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 8.36 | 0.00 | 01:00:00 |
Private equity firms including KKR & Co. (KKR) and Apax Partners are teaming up to make a joint bid for Vivendi SA's (VIV.FR) Brazilian phone and broadband unit GVT against DirecTV (DTV), Bloomberg News reported Thursday on its website, citing unnamed sources.
The group is willing to pay as much as 5 billion euros ($6.8 billion) for GVT, compared with Vivendi's asking price of about EUR8 billion, the report said.
Gavea Investimentos Ltda, owned by JPMorgan Chase & Co. (JPM), and Cambuhy Investimentos Ltda are also in the group of bidders, while Grupo BTG Pactual is still considering whether to join the bid, the report added.
But DirecTV, which remains interested in acquiring GVT, may be able to put out a bid closer to Vivendi's asking price due to the efficiencies the deal would bring about, the report cited another source as saying. Potential buyers are preparing for the second round of bids, which may be held by end-February, according to the report.
Vivendi, Apax, KKR and BTG Pactual representatives declined comment, while a DirecTV representative didn't respond to a message seeking comment, the report said. A JPMorgan spokesman declined comment on Gavea Investimentos' plans, while calls made to Cambuhy Investimentos weren't answered, the report added.
Full story: http://www.bloomberg.com/news/2013-01-31/kkr-apax-said-to-team-up-for-vivendi-s-gvt-against-directv.html
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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