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Vivendi still monitoring GVT situation - source

Wed Nov 4, 2009 3:53am EST

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PARIS, Nov 4 (Reuters) - French media group Vivendi (VIV.PA) is still monitoring the situation regarding Brazilian telecommunications group GVT (GVTT3.SA), a source close to the matter told Reuters on Wednesday.

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"We are reviewing the matter," the source said.

Vivendi would not comment.

On Tuesday, shareholders of Brazilian telecom carrier GVT unanimously removed a poison pill clause that made takeover bids too costly and were an obstacle to a takeover by a bigger rival.

GVT is the target of an unsolicited $3.7 billion bid by the domestic unit of Spain's Telefonica (TEF.MC) and a friendly $3 billion approach by Vivendi.

Both suitors had made the removal of the poison pill a precondition for their bids. (Reporting by Dominique Vidalon, editing by Marcel Michelson)

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