Ron Burgundy Posted March 20, 2015 Share Posted March 20, 2015 Telefonica has formally waived the voting rights associated with its stake in Telecom Italia in order to comply with the demands of Brazil's telecoms watchdog Anatel and go ahead with a purchase of Vivendi's GVT , the Spanish group said on Friday. Earlier this month Brazil's antitrust regulator said it had reached a preliminary deal with Telefonica and the local broadband unit of Vivendi that could clear the way for their merger. Telefonica has an around 14.8 percent stake in Telecom Italia, and has said it plans to use the stake to partly fund the purchase after relations soured between the two over consolidation in Brazil last year. View the full article Quote Link to comment Share on other sites More sharing options...
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