Spanish telecommunications operator Telefónica is reportedly likely to secure exclusive control of Brazil’s largest mobile operator, Vivo.

Spanish telecommunications operator Telefonica is reportedly likely to secure exclusive control of Brazil’s largest mobile operator, Vivo. Currently, Vivo is jointly controlled by Telefonica and Portugal Telecom, which have a combined 63 per cent stake in the mobile operator. Portugal Telecom is currently fighting a takeover bid by Sonaecom, a smaller Portuguese telecom company. However, Sonaecom says it would be willing to sell Portugal Telecom’s stake in Vivo to Telefonica if it succeeds in its takeover bid. Notably, Portugal Telecom is also willing to consider selling its stake in Vivo to Telefonica if it is able to block Sonaecom’s bid. However, no official deal has been worked out yet.