Reuters – DirecTV Will Not Pursue Vivendi’s GVT

DirecTV, the largest U.S. satellite television provider has decided to end its pursuit of Vivendi's GVT, complicating the sale of the Brazilian telecommunications operator, Reuters reported. A DirecTV spokesman confirmed on Thursday that the company chose to "not to move forward in its pursuit of GVT and has withdrawn from the process." The move is a major setback for Vivendi because it removes the only strategic buyer from the bidding. According to two people familiar with the group's thinking, the sale has been put on hold. The other bidder was a consortium of private equity groups led by KKR that offered a lower price than DirecTV, Reuters previously reported.

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