News

Río de Janeiro, Brazil. Telefónica completed the takeover bid on the shares of minority shareholders of Vivo, Brazil's largest mobile operator, an operation by U.S. $ 757.4 million, announced the Sao Paulo Stock Exchange.



With this operation, the Brazilian subsidiary of Spanish multinational bought 10.63 million shares with voting rights, a total of 15.22 million that were placed in the tender and amount to almost 70% of the auction, as reported by the square São Paulo.



The Spanish company ran last year with the entire stock of 10 000 Brasilcel after paying $ 600 million to Portugal Telecom for their participation. Both halves of the property shared by Brasilcel, which controls 60% of Vivo.



Source: La Prensa.com