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Telecom Italia CEO says looking at Brazil's GVT
November 13, 2012 / 2:40 PM / 5 years ago

Telecom Italia CEO says looking at Brazil's GVT

ROME, Nov 13 (Reuters) - Italy’s largest telecoms operator Telecom Italia could be interested in Brazilian telecoms company GVT and has no need at the moment for a capital increase, its chief executive Marco Patuano said on Tuesday.

“GVT is certainly something to look at as we are looking at many other things,” Patuano said on the sidelines of an event.

French communications conglomerate Vivendi is seeking to raise at least 7 billion euros from the sale of its unit GVT and has attracted expressions of interest from at least four bidders, including the Italian group, two sources have said.

Italian newspapers said on Tuesday the offer from Egyptian tycoon Naguib Sawiris to buy a stake in Telecom Italia is aimed at helping fund the acquisition of GVT.

Patuano said the company had no need at the moment for a capital increase, adding he had no further comment on Sawiris’s interest in his company. (Reporting By Steve Scherer, writing by Danilo Masoni, editing by Jennifer Clark)

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