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Telefonica seeks details on Brazil probe of GVT

* Telefonica’s Telesp unit calls for details on GVT probe

* Telesp alleges Vivendi gave wrong information on GVT bid

* Brazil regulator has been probing the takeover since Nov

SAO PAULO, Dec 21 (Reuters) - Telesp, the Brazilian unit of Spain's Telefonica TEF.MC, said on Monday it asked securities industry regulators for details of an investigation into possible irregularities by France's Vivendi in the takeover of local firm GVT GVTT3.SA.

Telesp said it sent a letter on Friday to Maria Helena Santana, head of Brazil's securities regulator CVM, asking for details of a probe started in November, soon after Vivendi VIV.PA unveiled its takeover bid for GVT.

Brazil’s regulator has said it started the investigation over doubts on call options held by Vivendi to buy GVT shares.

Telesp alleges conflicting information from Vivendi and financial agents linked to the GVT offer may have prompted shareholders of the Brazilian company to sell their stock under the wrong assumptions.

Telefonica’s Telesp unit made a bid in October to buy all of GVT’s shares at a price of 50.5 reais each, with the condition that at least 51 percent of GVT shareholders accepted the offer. The company had been seeking control of GVT to expand in Brazil’s center-south and in the northeast.

In a surprise move on Nov. 13, the French company acquired 37.9 percent of GVT’s voting shares for 56 reais each, and disclosed that it had the right to exercise the options from third parties it did not name, giving it an additional 19.6 percent stake in GVT.

The Telefonica unit also asked Brazil’s regulator to disclose whether Vivendi and other parties involved in the GVT bid omitted relevant information in the takeover offer.

Vivendi’s public relations office in Sao Paulo didn’t immediately return a request for comment.

The French company has steadily increased its stake in GVT, which offers broadband services and recently started competing with Telefonica’s Telesp unit in Sao Paulo state, since unveiling its takeover offer. Vivendi said in a statement on Dec. 10 it held a 72.1 percent stake in GVT, excluding unexercised options.

GVT shares firmed 0.1 percent in late afternoon trade in Sao Paulo to 55.6 reais, compared with a 0.2 percent gain in the benchmark Bovespa index .BVSP. (Reporting by Alberto Alerigi Jr.; Writing by Elzio Barreto; Editing by Steve Orlofsky)

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