“To date we have received only one offer, that of Telefonica”. So a Vivendi spokesman told France Presse after the rumors of a counter-offer by Telecom Italia for the Brazilian branch of the French group, Gvt. Last Thursday, in an official press release, Telecom limited itself to confirming that investigations are underway regarding the opportunity of presenting an 'industrial combination' offer to Vivendi which would include the integration of the two groups' Brazilian activities .
Telecom Italia specified that no offer has been finalized to date and that any decision to proceed with the operation is subject to the approval of the corporate bodies of Telecom Italia and TimPart, which however have not been convened. No reference to the possible rise of Vivendi to 20% of Telecom's capital as hypothesized by the press.
