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Telefonica To Buy $1B Vivo Shares
Telefonica will acquire nearly $1 billion outstanding common shares in Brazilian mobile company, Vivo.
Telefonicawill acquire nearly $1 billion outstanding common shares in Brazilian mobile company,Vivo,Reutersreports. The Spanish operator will launch a public tender offer for the same on March 18.
The company is seeking to acquire around 15.2 million outstanding common shares, addsBloomberg. Telefonica agreed to pay $10.1 billion to acquirePortugal Telecom’s stake in Vivo last year.
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