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03/03/2010 |
GVT
This page : GVT results, fixed telephony operator and internet in Brazil. |
| Vivendi purchases GVT |
Vivendi announced in 11/13/09 the acquisition of GVT's stocks from its controllers for R$ 56.00 per stock, what represents 37.9% of the total. Vivendo also had the option of purchasing further stocks (19.6%), reaching the total of 57.5% of the shares.
These options were options were bought in 12/23/09 as well as other groups of stocks. So Vivendi became the owner of 85.5% of GVT's capital.
Vivendi's target is to acquire all GVT's stocks, which would no longer have its shares negotiated in the Brazilian stock exchange. |

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Operational Performance
| Thousands | 2006 |
2007 |
2008 |
2009 |
| Acesses in service | 635 |
752 |
1,038 |
1,442 |
| ADSL* | 137 |
246 |
442 |
669 |
| VOIP subscribers* | 35 |
74 |
100 |
158 |
| Employees | 2670 |
- |
- |
- |
* included in accesses in service
The Internet provider POP had 1,040,200 active users in 12/31/2006 and VONO (IP telephony) 24,978 pay users,
Consult: VoIP in GVT
Financial Economic Performance
| R$ Millions | 2006 |
2007 |
2008 |
2009 |
| Gross Revenue | 1,200 |
1,535 |
2,129 |
2,771 |
| Net Revenue | 769 |
981 |
1,320 |
1,699 |
| EBITDA | 255.6 |
358.1 |
502.7 |
655.6 |
| EBITDA Margin | 33.3% |
36.5% |
38.1% |
38.6% |
| Net (loss) Profit | (72) |
59 |
18 |
(11) |
| Net Debt | (1,142) |
110 |
(285) |
(153) |
| Investments | 190 |
566 |
721 |
658 |
Net Revenue
| R$ Millions | 2006 |
2007 |
2008 |
2009 |
| Fixed Telephony | 588 |
716 |
893 |
1,106 |
| Local Service | 423 |
516 |
650 |
806 |
| Long distance | 121 |
148 |
185 |
214 |
| Network Use | 44 |
53 |
58 |
86 |
| Data per companies | 34 |
46 |
93 |
156 |
| Internet | 132 |
191 |
276 |
392 |
| Broad Band | 62 |
128 |
220 |
345 |
| ISP | 70 |
63 |
56 |
47 |
| VoIP | 14 |
26 |
33 |
39 |
| Net Revenue | 768 |
981 |
1,320 |
1,699 |
GVT was controlled by GVT (Holland), company established by financial investors, including Egaly Group (37.1%), Magnum Telecom (21.9%), IDB (16.5%), Discount Investment Corporation (16.5%), Quillon (6.7%) and others.
The company has been negotiating its shares in the new Bovespa's market (São Paulo Stock Market) in 02/15/07.
GVT has Local, LDN and LDI service authorization to Brazil (Regions I, II and III). It is the mirror company to Region II.
In February 2007 GVT was in operation in 61 cities of Region II and in the metropolitan areas of São Paulo (11), Rio de Janeiro(21) and Belo Horizonte (31), total of 64 cities in National territory.
In Sept/07 GVT announced the operation in Belo Horizonte with an initial offer of 30 thousand voice lines and 13 thousand ADSL access.
In Dec/07 GVT acquired Geodex, company that has its own network with more than 11 thousand km of optical fiber based on SDH and DWDM technologies. GVT available R$ 74.6 millions for the acquisition of shareholding control, and others around R$ 33.7 millions (considering the intire balance of Geodex's cash in the transaction) for the payment of obligations gotten by the acquired company.
In May/08, GVT announced the beginning of operation in Contagem (Minas Gerais) with a start offer of 18 thousand voice lines and until 14 thousand broad band access (ADSL).
In May/2008, GVT announced the beginning of operation in Salvador (Bahia) with a start offer of 45 thousand voice lines and until 45 thousand broadband access (ADSL). The operator invested US$ 27 million to cover the villages of Amaralina, Barra, Caminho das Árvores, Canela, Comércio, Graça, Jardim Apipema, Pituba and Vitória.
| Telefonica increases offer for GVT |
Vivendi announced on 11/13 having acquired stocks from GVT controllers for R$ 56.00 per share, what represented 37.9% of the total and optional purchase for 19.6¨of the shares, giving the company 57.5% of the stocks. The company will make a public offer in order to acquire the remaining 42.5%, reaching so 100% of the capital.
Telefonica, which had increased its offer from R$ 48.00 to 50.00 and had an auction set to November 19th, is out of this competition.
GVT's shareholdres approved in 11/3 the withdrawal of its social contract, what was making it difficult to sell the company. Who purchased more than 15% of the company's shares would have to pay a bonus of 25% on the highest value. This was one of the conditions for Vivendi and Telefonica to acquire GVT.
On 11/12/09, Anatel gave its approval so Telefonica or Vivendi could purchase GVT.
Vivendi and Telefonica wnat to purchase GVT
Swarth Group which controls GVT announced in Sep/09 an agreement with Vivendi in order to sell the company control. Vivendi wants to acquire all company's shares through public offer of about R$ 42.00 per share. Vivendi might spend about US$ 2.9 billions in this trade.
On 10/07/2009, Telefonica launched a public offer in order to acquire at least %1% of GVT's stocks in an auction to be held in Bovespa on 11/19/2009. The price offered by Telefonica reaches R$48.00 per share what would represent an investment of about R$ 6.5 billions.
Telefonica can make an offer because GVT has only ordinary share (with right of vote) and 65% of its stocks arean't owned by controllers. |



