REFILE-UPDATE 3-Vivendi, Telefonica seal $9.3 bln Brazilian broadband deal

viernes 19 de septiembre de 2014 07:00 GYT

(Adds details on Telecom Italia's shareholders; refiled to remove repetition of Bollore's title)

* Deal valued at 7.2 billion euros in cash and shares

* Vivendi accepts Telefonica's stake in Telecom Italia

* Sale expected to close by mid-2015

By Dominique Vidalon and Tracy Rucinski

PARIS/MADRID, Sept 19 (Reuters) - French media group Vivendi has finalised an agreement to sell its Brazilian broadband business GVT to Spain's Telefonica for cash and shares worth around 7.2 billion euros ($9.29 billion), the companies announced on Friday.

The deal is subject to regulatory approval in Brazil and is expected to complete by mid-2015.

Telefonica plans to fold GVT into its Vivo-branded Brazilian mobile phone business to create the country's biggest telecom group, Telefonica Brasil.

Under the deal Vivendi will get not only a 7.4 percent stake in Telefonica Brasil and 4.66 billion euros in cash but has also opted to take off Telefonica's hands its remaining stake in Telecom Italia -- 8.3 percent of Telecom Italia's voting share capital, or 5.7 percent of its total share capital.   Continuación...