Spain's Telefonica raises offer for Brazil's GVT
SAO PAULO |
SAO PAULO Nov 4 (Reuters) - Spanish telecommunications company Telefonica (TEF.MC) raised on Wednesday its unsolicited offer for Brazilian rival GVT GVTT3.SA by 5.2 percent to 50.50 reais a share.
The company's board raised the offer in order to "ensure the success of an offer and to reinforce Telesp's intention" to buy GVT, according to a regulatory filing. Telesp is Telefonica's local unit in Brazil. (Reporting by Guillermo Parra-Bernal, editing by Gerald E. McCormick)
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