SAO PAULO--Brazilian phone company Oi SA (OIBR, OIBR4.BR) is interested in the sale of rival phone company GVT by France's Vivendi SA (VIVEF, VIVHY, VIV.FR), the Valor newspaper reported Friday, citing Oi chief executive Francisco Valim.
"We consider any market opportunity and we are starting to analyze GVT," Mr. Valim said, according to the report.
GVT was founded as a startup to compete against Oi in southern Brazil, but the report said there are unlikely to be any antitrust issues. Mr. Valim said in principle that there wouldn't be any legal impediment, "but if we were to take a decision in this sense, we would consult with the regulatory bodies."
Vivendi has pledged to review its far-flung conglomerate strategy in a bid to boost its share price. People familiar with the firm have previously said bids for GVT are expected by the end of the year, and one person has said that the French firm probably wouldn't sell for less than 7 billion euros ($8.9 billion).
Separately, on Thursday, the chief operating officer of Telecom Italia SpA (TI, TIT.MI) said that firm's board plans to evaluate a purchase of GVT at its meeting at the beginning of December, but it would need to raise capital to fund its bid.
GVT is "is a good asset, an interesting asset--not cheap," Marco Patuano said at the Morgan Stanley TMT Conference in Barcelona. If the board of directors considers that this investment has to be made, at that point the question will arise of how to finance it, he added.
-Sam Schechner in Barcelona contributed to this article.
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