Telefónica Wins Vivo Battle

Spain’s Telefónica SA won full control of a Brazilian wireless joint venture it had with Portugal Telecom SGPS SA after a sweetened bid of €7.5 billion ($9.75 billion) ended months of struggles between the two Iberian telecoms.

Portugal Telecom said it would use some of the proceeds from the sale of its stake in Brazil’s Vivo Participacoes SA to buy a 22.4 percent stake in another Brazilian wireless carrier, Oi.

Telefonica and PT both said Wednesday their boards had approved the transaction, which was initially vetoed by the Portuguese government.

Brazil has become a battleground for Portugal Telecom and Telefónica, with both companies increasingly drawn to the high-growth region as revenue declines in their mature home markets and they suffer the lingering impacts of a severe recession. The country’s young population and relatively low mobile penetration rates also make it a prime market to pick up new wireless and Internet customers.

Read the rest of this post on the original site

Must-Reads from other Websites

Panos Mourdoukoutas

Why Apple Should Buy China’s Xiaomi

Paul Graham

What I Didn’t Say

Benjamin Bratton

We Need to Talk About TED

Mat Honan

I, Glasshole: My Year With Google Glass

Chris Ware

All Together Now

Corey S. Powell and Laurie Gwen Shapiro

The Sculpture on the Moon

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other websites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Read more »