Spain's Telefonica raises offer for Brazil's GVT
Published: 04 Nov 2009 05:22:34 PSTSAO PAULO, Nov 4 - Spanish telecommunications company Telefonica raised on Wednesday its unsolicited offer for Brazilian rival GVT by 5.2 percent to 50.50 reais a share.
The company's board raised the offer in order to "ensure the success of an offer and to reinforce Telesp's intention" to buy GVT, according to a regulatory filing. Telesp is Telefonica's local unit in Brazil.
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