Brazil's antitrust watchdog Cade could analyze Telefonica SA's plan to purchase smaller rival GVT SA jointly with a proposal to exit Telecom Italia SpA, depending on how the deals are presented to regulators, the agency's president said on Wednesday. Telefonica this week signaled that it will pull out from Telecom Italia once it completes the acquisition of GVT. Brasilia-based Cade ordered Telefonica in December to exit Telecom Italia, which controls Brazil's No. 2 wireless carrier, to ease competition concerns in Brazil.Regulators are ready to analyze the Telefonica-GVT deal once it is filed, Cade president Vin�cius Carvalho said. Different arrangements for the deal, including a potential swap of Telecom Italia shares between Telefonica and France's Vivendi SA , which owns GVT, could be analyzed by regulators."If in the middle of the transaction, there is the Telecom Italia stake that could be traded between Telefonica and Vivendi, it will be analyzed as part of the entire deal," Carvalho said.For years, the ties between Telefonica, which controls Brazil's No. 1 mobile carrier, and Telecom Italia sparked regulatory unease in Brazil. Telefonica has taken steps to cut its Telecom Italia stake since Cade's December ruling as a way to preserve its leadership in Brazil - Telefonica's second-largest market behind Spain in terms of cash generation.
Shares of TI fell by 0.06% or $-0.0072/share to $11.27. In the past year, the shares have traded as low as $7.20 and as high as $13.54. On average, 82753 shares of TI exchange hands on a given day and today's volume is recorded at 14010.
Shares of TI-A traded higher by 0.11% or $0.01/share to $9.01. In the past year, the shares have traded as low as $5.76 and as high as $10.62. On average, 35859 shares of TI-A exchange hands on a given day and today's volume is recorded at 5060.
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