August 28, 2014 / 7:10 PM / 3 years ago

Telecom Italia acknowledges Vivendi decision on GVT unit

MILAN, Aug 28 (Reuters) - Telecom Italia said on Thursday it “took note” of the decision by Vivendi to enter into exclusive talks with Spain’s Telefonica over the sale of the French media company’s Brazilian unit GVT.

Earlier, Vivendi picked Telefonica for exclusive talks over the sale of GVT, spurning Telecom Italia’s rival bid.

“From the start Telecom Italia has made it clear that it would take a disciplined approach to its strategy in Brazil in order to maximise the value for all its shareholders,” the Italian telecoms operator said in a statement.

Telecom Italia said it would continue to pursue its development and investment plans in Brazil in line with its 2014-2016 business plan. (Reporting by Stephen Jewkes)

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