Telefonica discusses raising bid for Vivendi's GVT


Telefonica’s (NYSE:TEF) board is discussing plans to raise its bid for Vivendi's (OTCPK:VIVHY) GVT to as much as €8B ($10.6B), Bloomberg reports.

Previously, Telefonica offered €6.7B for the Brazilian broadband unit.

The new bid could be announced before Aug. 28 and even before Telecom Italia (NYSE:TI) puts forward its formal rival bid.

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