In a twist of harrowing but successful turn around, Telefonica Wednesday announced it had finally managed to seal the deal with Portugal Telecom for the acquisition of the Portuguese Telecoms company’s stake in Vivo, the Brazilian telecoms major. In its statement to the Spanish Stock Exchange, the Spanish telecoms giant, Telefonica, said it had won [...]

French giant media company Vivendi could face up to more than one billion dollars in fines from Brazil’s securities regulator over a fraud case involving its acquisition of GVT, the Brazilian phone company. Reports surfaced Sunday in a domestic Brazilian newspaper, stating that the French media firm could pay about 3 billion reals, an equivalent [...]

After a protracted wait for the acquisition of its joint venture partner’s stake in the Brazilian telecoms giant, Vivo, the Spanish telecoms company, Telefonica Monday announced it had withdrawn its contention for the stake purchase. The Spanish company withdrew a planned $9.26 billion takeover bid it had launched for the complete takeover of its Brazilian [...]

In a move that might bring to an end the long standing Portugal Telecom’s sale of its Vivo stake to Telefonica, the European Court of Justice last week ruled the Portuguese government’s move to block the potential sale given its golden share in Portugal Telecom (PT) violated EU rules. The Portuguese government shocked Portugal Telecom [...]

Telefonica, the Spanish telecoms company, Tuesday announced that it intends to raise its bid for Portugal Telecom’s stake in the holding company that controls Vivo, the Brazilian mobile phone operator, to about €7.15 billion from the initial offer of €6.5 billion. This is the second time the Spanish telecoms company is increasing its bid for [...]