By Rogerio Jelmayer
SAO PAULO--Telefonica Brasil SA (VIV, VIVT4.BR), the Brazilian
unit of Spanish telecom firm Telefónica SA (TEF, TEF.MC), said it
plans to sell shares in order to finance the acquisition of Vivendi
SA's (VIV.FR) Brazilian unit, GVT.
The formal request for the share offering will be made after the
GVT's acquisition approval by local telecommunications regulator,
Anatel.
Telefonica made the comment after Brazil's Securities and
Exchange Commission requested more information on media
speculations of a potential share offering in Brazil.
The company, however, didn't say if the share offering would be
made in Brazil or Europe, nor unveil an exact financial amount to
be raised from the operation.
In September, France's Vivendi accepted to sell its Brazilian
unit GVT to Telefonica for EUR7.24 billion ($7.8 billion).
Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires