KKR, Apax Bid for Vivendi's Brazilian Telecoms Subsidiary

Private equity firms KKR and Apax Partners are teaming up to bid for French media group Vivendi's Brazilian telecoms subsidiary GVT, according to a Bloomberg report. The KKR-Apax group is said to be willing to pay as much as 5 billion euros ($6.8 billion) for GVT, below Vivendi's asking price of 8 billion, the report said. BTG Pactual Group , Latin America's largest investment bank, is "still considering" whether to join the bid, Reuters wrote.

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