NEW YORK (TheStreet) --  Vivendi (VIVHY)  , the French media group, said it would enter into exclusive talks with Telefonica (TEF) - Get Report over the sale of its Brazilian broadband unit GVT, choosing the Spanish group over a rival bid from Telecom Italia (TI) , Reuters reports.

Telefonica bid more than Telecom Italia for GVT to ensure that it won the broadband and pay-TV provider, which it will fold into Brazil's leading mobile carrier Vivo, Reuters said.

Shares of Vivendi are down -0.56% to $26.48 in early morning trade. 


STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

VIVHY data by YCharts

Image placeholder title

EXCLUSIVE OFFER:See inside Jim Cramer's multi-million dollar charitable trust portfolio to see thestockshe and Stephanie Link think could be potentially HUGE winners.Click here to see the holdings for FREE

Tags
terms:
Markets