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Spain's Telefonica sees $6.2 bln synergies from GVT buy
August 29, 2014 / 5:56 AM / 3 years ago

Spain's Telefonica sees $6.2 bln synergies from GVT buy

MADRID, Aug 29 (Reuters) - Spain’s Telefonica on Friday said it expected the purchase of Vivendi’s Brazilian broadband unit GVT to deliver synergies of at least 4.7 billion euros ($6.2 billion), net of integration costs.

The Spanish telecoms also forecasts net savings from the deal from the first year.

France’s Vivendi on Thursday picked Telefonica for exclusive talks over the sale of GVT, shunning a rival offer from Telecom Italia. Telefonica will fold GVT into its Brazilian mobile phone carrier Vivo. ($1 = 0.7590 euro) (Reporting by Sarah White; Editing by Miral Fahmy)

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