Spanish telecom firm Telefonica has agreed to buy Portugal Telecom’s stake in Brazilian mobile company Vivo, ending weeks of strained negotiations.
No figure for the deal was announced, but reports say the Spanish company will pay 7.5bn euros ($9.8bn; £6.3bn).
To read this BBC News report in full, see: www.bbc.co.uk/news/business-10785952
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Telefónica Wins Full Control of Brazil Phone Venture Telefónica of Spain won full control of the mobile phone joint venture it had with Portugal Telecom in Brazil after raising its bid for a third time to 7.5 billion euros. The move allowed it to overcome opposition from the Portuguese government.
The deal, worth about $9.75 billion, was announced Wednesday morning by the Spanish stock market regulator. www.nytimes.com/2010/07/29/technology/29vivo.html
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