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5 years ago
DirecTV considering bid for Vivendi's GVT - Bloomberg
September 19, 2012 / 12:55 AM / 5 years ago

DirecTV considering bid for Vivendi's GVT - Bloomberg

2 Min Read

* GVT recently estimated to be worth $10 billion

* Vivendi preparing list of potential buyers - Bloomberg

NEW YORK, Sept 18 (Reuters) - The U.S. company DirecTV is considering a bid for the Brazilian phone operator GVT, Bloomberg News reported on Tuesday.

Reuters reported in July that GVT's parent company Vivendi SA was considering selling the unit, and that it could fetch as much as $10 billion.

The California-based satellite television provider DirecTV is not the only potential buyer, according to Bloomberg. Vivendi is preparing a list of prospective buyers who will be given access to GTV's financial information.

A sale of GVT - a cherished jewel in Vivendi's crown - comes after the French group's exploratory talks to offload video games unit Activision Blizzard found few takers at the price it sought.

Sources told Reuters in July Vivendi's board's thinking had evolved from seeing the Brazilian broadband provider as a must-keep asset to one that it would consider selling at the right price.

Vivendi, Europe's largest telecoms and entertainment group, is reviewing its structure to reverse a sustained slump in its share price, and investment banks are pitching ideas to sell units or to break up the business up completely.

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