Telefónica is reportedly offering Vivendi a TV content deal on top of its €6.7 billion bid for the latter’s Brazilian unit GVT as it battles it out with Telecom Italia to secure an agreement with the French media giant.
Reuters has reported that the Spanish telco is offering at TV content deal alongside its €6.7 cash and shares offer, citing an unmanned source. Telecom Italia reportedly is preparing an offer worth €7 billion to secure the acquisition of GVT by its Brazilian subsidiary TIM Brasil in a deal that could see Vivendi take a 20% stake in the Italian operator.
Telefónica is in the process of acquiring control of Canal+ España from Prisa Group and Mediaset in Spain, while Vivendi owns Canal+ France and is keen to build alliances and make acquisitions that would provide opportunities for the latter to distribute its content internationally.
The latest development follows news that Telecom Italia is preparing a €7 billion shares-based offer, reported by Bloomberg, citing unmanned sources. Telecom Italia, in which Telefónica is the largest single shareholder through the Telco holding vehicle, has confirmed it is interested in creating “an industrial combination that include integration of the Brazilian businesses of the two groups” but said that “no offer has been finalized or made”.
Telecom Italia deputy director Marco Patuano met Vivendi chairman Vincent Bolloré in Paris last week to discuss the matter.