Telefonica, Vivendi conclude share swap
SAO PAULO, Sept 17 (Reuters) - Spain's Telefonica and European media group Vivendi concluded a swap of shares in Telefonica's Brazilian unit for those of the parent company, Telefonica Brasil said on Thursday.
Vivendi exchanged 58.4 million of its Telefonica Brasil preferred shares, or 3.5 percent, for 46 million Telefonica shares.
Vivendi no longer has a share holding in Telefonica Brasil, and Telefonica increased its stake in its Brazilian unit that operates under the Vivo brand by 5.2 percent, Telefonica Brasil said in a securities filing. (Reporting by Caroline Stauffer; Editing by Chizu Nomiyama)
© Thomson Reuters 2017 All rights reserved.