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

Published 29/08/2014, 07:02
© Reuters A man talks on his mobile phone in front of the headquarters of Brazilian broadband company GVT in Curitiba
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MADRID (Reuters) - Spain's Telefonica (MC:TEF) on Friday said it expected the purchase of Vivendi's (PA:VIVA) Brazilian broadband unit GVT to deliver synergies of at least 4.7 billion euros (3.73 billion pounds), 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 (MI:TLIT). Telefonica will fold GVT into its Brazilian mobile phone carrier Vivo (SA:VIVT3).

© Reuters. A man talks on his mobile phone in front of the headquarters of Brazilian broadband company GVT in Curitiba

(Reporting by Sarah White; Editing by Miral Fahmy)

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