Bloomberg News

DirecTV, America Movil Make Bids for Vivendi’s GVT, Reuters Says

November 28, 2012

DirecTV and America Movil SAB submitted preliminary bids of more than 6 billion euros ($7.76 billion) to acquire Vivendi SA (VIV)’s Brazilian Internet unit GVT, Reuters said, citing unidentified people familiar with the matter.

Liberty Global Inc. (LBTYA:US) and a group of private-equity funds also submitted preliminary bids, the news agency said today, citing the people. The offers were below the 7 billion euros Vivendi had sought, Reuters said.

While Telecom Italia SpA (TIT) didn’t submit a bid, the company may do so after a Dec. 6 board meeting in which it will discuss GVT, the report said. Vivendi plans to have final bids by January, it said.

Vivendi’s press office didn’t answer phone calls from Bloomberg after normal business hours. An America Movil press official declined to comment to Bloomberg. Darris Gringeri, a spokesman for DirecTV (DTV:US), and Hanne Wolf, a spokeswoman for Liberty Global, didn’t immediately return phone messages.

To contact the reporter on this story: Crayton Harrison in Mexico City at tharrison5@bloomberg.net

To contact the editor responsible for this story: Nick Turner at nturner7@bloomberg.net


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Companies Mentioned

  • LBTYA
    (Liberty Global PLC)
    • $42.73 USD
    • 0.58
    • 1.36%
  • DTV
    (DIRECTV)
    • $85.26 USD
    • 0.24
    • 0.28%
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