PARIS Feb 25 Vivendi is delaying the
sale of its Brazilian telecom unit GVT after the French group
failed to obtain offers near its preferred price of 7 billion
euros ($9.25 billion), French daily Les Echos reported on its
website on Monday without citing sources.
A Vivendi spokesman declined to comment on the report, but
added that the company is not in a rush to sell the business.
The French media, entertainment and telecoms conglomerate,
which is due to report full-year results on Tuesday, is looking
to sell several assets as part of an overhaul aimed at cutting
debt and reducing its exposure to the capital-intensive telecoms
Sources have told Reuters that Vivendi expected to receive
final bids for GVT in March.
Brazilian newspaper Folha de S.Paulo reported on Sunday that
the deal was weeks away, sending Vivendi shares up 3.5 percent
on Monday morning.