Reuters – Liberty Global Says Has Not Bid on GVT

U.S. billionaire John Malone’s cable group Liberty Global said it had not made an offer to purchase Brazilian broadband specialist GVT from France’s Vivendi. Earlier, a source had told Reuters that Liberty was one of four bidders for GVT, an alternative provider of fixed telephone, broadband and TV services in 120 Brazilian cities.

(Reuters) – U.S. billionaire John Malone’s cable group Liberty Global said it had not made an offer to purchase Brazilian broadband specialist GVT from France’s Vivendi.

“As a matter of policy, we do not comment on M&A rumours, but we can confirm that we did not table a bid for GVT,” a spokesman said on Thursday.

Earlier, a source had told Reuters that Liberty was one of four bidders for GVT, an alternative provider of fixed telephone, broadband and TV services in 120 Brazilian cities.

Liberty’s denial adds to the sense of uncertainty surrounding the sale, seen as a crucial part of a wider asset shake-up by Vivendi, which is trying to unload several telecoms assets to cut its debt load.

Preliminary bids for GVT were submitted by satellite group DirecTV, Mexican telecom giant America Movil SAB and a group of private equity funds, according to information provided by two sources familiar with the deal.

The offers were below the 7 billion euros that sources earlier said Vivendi was aiming to garner from the sale.

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