Telefonica’s GVT deal could be done in two months

Telefonica is expecting to close the deal with Brazil’s GVT within two months, in the absence of a counterbid.

“GVT is very complementary for Telefonica ... [If there’s no other bid] the deal could be closed in something like two months,” he said.

Last week Telefónica launched a takeover bid for Brazilian fixed-line operator GVT for €2.5 billion, outmatching an earlier offer from Vivendi.

GVT mainly serves corporate customers and small businesses, offering fixed-line voice and broadband services. With around 2.3 million subscribers, the company captures about 5% of the Brazilian market.

Telefónica said GVT's operations were a strong fit with its existing operations in Brazil, where it has a strong presence. The company launched the tender offer through Brazilian subsidiary Telesp. Telefónica already holds about 30% of Brazil's fixed-line and mobile telephony markets.

Alierta also confirmed that talks were advancing on Telefonica's interest in buying Telecom Italia's TLIT.MC's German broadband unit Hansenet.

“I think we are getting closer, but we will see in the coming weeks. I think whatever happens will happen before year-end,” he said.