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| Name | Symbol | Market | Type |
|---|---|---|---|
| Vivendi SE (PK) | USOTC:VIVHY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 12.00 | 11.93 | 11.95 | 10 | 14:44:00 |
From Jul 2019 to Jul 2024
By Ruth Bender
PARIS--Vivendi SA (VIV.FR) on Friday said it has completed the sale of its Brazilian telecom unit GVT to Telefónica SA (TEF), a move that will add another cash pile to its already large money reserve and make the French group a significant shareholder in Italian telecom company Telecom Italia SpA (TI).
Vivendi will in coming weeks own 8.3% of Telecom Italia's capital, which was part of the deal as agreed with Telefonica last September.
Vivendi said it will receive 4.2 billion euros ($4.6 billion) in cash, before tax, and get a 12% stake in Vivo, Telefónica's Brazilian unit merged with GVT. Vivendi said it will swap 4.5% of this stake for Telefónica's stake in Telecom Italia, which will give it the 8.3% interest in the Italian company.
-Write to Ruth Bender at ruth.bender@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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