Consolidation In Brazilian Telecoms

In launching a bid for Global Village Telecom Holdings (GVT), Spain's Telefonica is attempting to use the Brazilian operator's high-quality broadband services and multi-regional subscriber base, as a vehicle to further its expansion in the fast-growing Latin American telecoms market. The BRL6.5mn (US$3.7bn) offer by Telesp, Telefonica's local fixed-line phone unit which operates in the industrial heartland state of Sao Paulo, trumps the US$3bn rival bid made by France's Vivendi for the Curitiba, Brazil-based company. Mindful that the Latin American telecoms markets offers increasingly strong revenue growth in comparison with the more mature - and hard-hit - markets of Europe,

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