War over Vivo enters critical phase

摘要

The battle for control of the leading Brazilian mobile operator by subscribers, Vivo Participacoes, is expected to reach new levels when Portugal Telecom (PT) shareholders vote on Telefonica of Spain's unsolicited EUR6.5 billion (US$8.0 billion) to buy out its 50 percent stake in the joint venture.rnNo one is certain of the outcome of the vote, although both sides consider the outcome to be of immense importance, given the Latin unit's status as a massive cash cow for both groups. Telefonica is looking to merge Vivo with Telesp, its Brazilian fixed-line arm, if it is successful in its bid.