Telefonica Ups Bid To Create Brazil's Top Operator

MADRID (AP) — Spain's telecommunications company Telefonica has raised its offer to buy Brazilian operator Global Village Telecom, or GVT, from French media conglomerate Vivendi to 7.45 billion euros ($9.82 billion) from 6.7 billion euros previously. Telefonica says combining GVT with its unit Telefonica Brasil would make it the biggest telecom operator in Latin America's largest market.

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