MILAN Aug 28 Telecom Italia said on
Thursday it had offered to buy Vivendi's Brazilian unit
GVT in a cash-and-share offer that values the broadband company
7 billion euros ($9.25 billion).
The offer, which also envisages a merger between GVT and
Telecom Italia's own Brazilian unit Tim Participacoes
, outbids a 6.7 billion euros offer unveiled by
Spanish telecom group Telefonica on Aug. 5.
Telecom Italia said its deal would result in Vivendi taking
a stake of around 20 percent in Italy's biggest phone company by
Telecom Italia did not offer detailed financial elements of
its bid but said the bid was made up of 24 percent in cash and
around 76 percent in shares.
(1 US dollar = 0.7571 euro)
(Reporting by Lisa Jucca; Editing by Gopakumar Warrier)