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Vivendi headquarters in Paris: The company decided this past summer to sell GVT as it reviews its portfolio of businesses in mobile telephony, videogames and music. (FRANCK PREVEL/ASSOCIATED PRESS)
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Vivendi’s best bang for Brazil unit may lie in IPO
Vivendi may need to rethink the sale of its Brazilian telecommunications unit. The French company is courting top names to unload GVT for some $9-billion (U.S.). But Telecom Italia and Brazil’s Grupo Oi are too leveraged to afford Vivendi’s jewel. And Brazilian regulators could deny Mexican monopolist Carlos Slim’s America Movil a bigger role. With a full sale tough to achieve, returning GVT to the market may make more sense.
