ADVFN - Advanced Financial Network.
HOME» NYSE » V » VIV Stock Price » VIV Stock News

Vivo Participacoes S.a. Share News

 Vivo Participacoes S.a. Stock Price
VIV Stock Price
 Vivo Participacoes S.a. Stock Chart
VIV Stock Chart
 Vivo Participacoes S.a. Stock News
VIV Stock News
 Vivo Participacoes S.a. Company Information
VIV Company Information
 Vivo Participacoes S.a. Stock Trades
VIV Stock Trades

Brazil's Embratel Plans Cable TV Tender,Corporate Restructuring

SAO PAULO -(Dow Jones)- Brazilian phone company Embratel Participacoes S/A (EBTP4.BR) on Tuesday unveiled plans to start a restructuring of its operations, which could eventually bring all of the group's operations under one roof. Embratel, controlled by Mexico's America Movil SAB de CV (AMX, AMOV, AMX.MX), plans to buy up shares in cable television company Net Servicos de Comunicacao S/A (NETC, NETC4.BR) that it doesn't already own and will examine the "convenience" of a corporate restructuring, according to a company statement. Embratel would be the last major Brazilian telecommunications group to reorganize, as the industry puts behind it the complex and fragmented years following the 1998 privatization. Telefonica Brasil SA (VIV, VIVT4.BR) merged its fixed and mobile operations last year, while the Oi group is in the final stages of its own reorganization. Embratel said the tender offer would be for all of Net's outstanding shares, including those listed in the U.S. and in Spain; if successful, Embratel would proceed to take Net private, withdrawing the shares from trading. Embratel said it has set a maximum price of 26.04 Brazilian reais ($14.80) a share for Net's preferred and voting shares. The company has called for a valuation of Net's shares, and if that price is higher than BRL26.04, Embratel may cancel the plans to withdraw Net from trading and would instead stick with a simple tender offer. Embratel confirmed on Tuesday that it has taken control of GB Empreendimentos e Participacoes, the holding company that controls Net, after buying 5.5% of GB's voting shares for BRL6.44 million from Globo Comunicacoes e Participacoes S/A, or Globopar. That purchase was part of a deal struck in 2005, under which Embratel agreed to buy control of Net once legislation was changed to allow foreign-owned companies to own Brazilian cable TV firms. That law was changed in 2011. Embratel said it now controls 92.2% of Net's total capital. -By Matthew Cowley, Dow Jones Newswires; +55 11 3544 7082;

Stock News for Vivo Participacoes S.a. (VIV)
02/08/201615:38:06Report of Foreign Issuer (6-k)
02/08/201615:32:46Report of Foreign Issuer (6-k)
02/08/201607:42:00Vivendi & Gilbert Coullier Productions to Bring Together Eddie...
02/08/201607:42:00Vivendi et Gilbert Coullier Productions réunissent Gad Elmaleh e...
02/02/201606:40:00Vivendi : Information mensuelle relative au nombre total de droits...
01/15/201601:57:00Vivendi: unwinding of hedge and disposal of Activision Blizzard...
01/15/201601:57:00Vivendi : débouclage de la couverture et cession des titres A...
01/13/201613:13:00Vivendi : Complément n° 3 au descriptif du programme de rachat d...
01/13/201612:33:05Amended Statement of Beneficial Ownership (sc 13d/a)
01/13/201605:57:00Brazil Mobile-Phone Subscriptions Down Again in November
01/12/201609:57:00Vivendi: Governance Changes at Dailymotion
01/12/201609:57:00Vivendi : évolution de la gouvernance de Dailymotion
01/05/201613:08:00Vivendi : Information mensuelle relative au nombre total de...
12/30/201506:06:54Report of Foreign Issuer (6-k)
12/18/201507:03:05Report of Foreign Issuer (6-k)
12/17/201516:17:47Report of Foreign Issuer (6-k)
12/17/201516:13:01Report of Foreign Issuer (6-k)
12/17/201513:45:00Vivendi and Sciences Po Award the Media CSR Innovation Prizes
12/17/201513:45:00Vivendi et Sciences Po décernent les prix pour l’Innovation RS...
12/17/201512:10:00Vivendi Acquires a Majority Stake in Radionomy Group, a Major...

Vivo Participacoes S.a. and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2015 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations