Telesp, the Brazilian fixed-line telecom unit of Spain's Telefonica (TEF.MC), will take over mobile carrier Vivo (VIVO4.SA) in a share swap as part of a plan that created Brazil's largest telecom group, Telesp said in a securities filing late on Friday. Minority shareholders will get 1.55 shares of Telesp for each class of stock of Vivo, Telesp said. Telefonica agreed in July to buy Portugal Telecom's (PTC.LS) stake in Vivo for 7.5 billion euros, becoming the controlling shareholder of the Brazilian wireless company.
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