MADRID Aug 28 Spain's Telefonica said
on Thursday it had launched a new bid for Vivendi's
Brazilian unit GVT worth 7.45 billion euros ($9.84 billion) to
be paid in cash and shares.
The offer is above Telefonica's initial 6.7 billion euro bid
for GVT and a 7 billion euro counterbid from Telecom Italia
In a statement, Telefonica said it would pay 4.66 billion
euros cash and offer Vivendi a 12 percent stake in the new group
to be created in Brazil from the merger of GVT with Telefonica
It also offered Vivendi an option to buy an 8.3 percent
stake in Telecom Italia.
(1 US dollar = 0.7572 euro)
(Reporting by Tracy Rucinski; editing by David Clarke)