August 5, 2014 / 6:00 AM / 4 years ago

Vivendi says none of its units for sale after GVT bid

PARIS, Aug 5 (Reuters) - France’s Vivendi confirmed it had received a binding offer from Telefonica for its Brazilian broadband business, GVT, but said none of its subsidiaries were for sale.

Vivendi said its supervisory board would nonetheless consider the offer, valuing GVT at an enterprise value of about 6.7 billion euros ($8.99 billion), at its next meeting.

Under the terms of the Telefonica deal, 60 percent of the price would be paid in cash, while Vivendi would also have the option to buy 8.1 percent of Telecom Italia, the French company said in a statement on Tuesday. (1 US dollar = 0.7450 euro) (Reporting by James Regan; Editing by Leigh Thomas)

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