Spain’s Telefonica drops offer for PT’s Vivo stake

MADRID, July 17 (BestGrowthStock) – Spanish telecoms company
Telefonica (TEF.MC: ) has dropped its offer for Portugal Telecom’s
(PTC.LS: ) stake in Brazilian cellphone company Vivo (VIV04.SA: )
after the expiry of the deadline for the offer, a Telefonica
spokesman said on Saturday.

Telefonica and Portugal Telecom are currently joint owners
of Vivo, Brazil’s largest cellphone company.
(Reporting by Nigel Davies, editing by Tim Pearce)

Spain’s Telefonica drops offer for PT’s Vivo stake