Vivo shareholders approve GVT purchase

• Telefonica Brasil (NYSE:VIV) reports that its shareholders have approved its purchase of broadband firm GVT from Vivendi (OTCPK:VIVHY), expected to cost $7.8B.
• In April, the company (a unit of Spain's Telefonica (NYSE:TEF)) priced a share offering to raise funds for the purchase.
• Vivo's shareholders also elected Amos Genish to a board seat and the company's presidency.
• Previously: Argentina clears path for Vivendi investment in Telecom Italia (May. 28 2015)
• Previously: Telecom Italia: We welcome Vivendi investment (May. 20 2015)