SAO PAULO (BRAZIL), 16 Feb. Telefónica has launched a tender offer for 15.21 million shares outstanding of the Brazilian mobile operator Vivo in the hands of minority shareholders representing 11.09% of Titles Brazilian company, said in a statement to the Stock Exchange of Sao Paulo. In particular, Telefónica will offer the March 18 50.15 euros for each of the 15,217,217 outstanding shares, representing 80% of the value set in its bid for Portugal Telecom held securities of EUR 62.68 .
Telefonica and PT in July 2010 reached an agreement whereby the Spanish Luso his partner acquired 30% of Vivo, which controls through Brasilcel for a price of 7,500 million euros. The firm headed by Cesar Alierta specified that this amount, 4,500 million euros would be paid at closing, 1,000 million on December 30, 2010 and 2,000 million remaining on October 31, 2011, while PT the latter may request that payment be brought forward to July 29, 2011, which would reduce the amount of 25 million euros.
If Portugal Telecom exercises this option, the amount paid by Telefonica Portugal Telecom shares fall to 62.47 euros per share, which, in turn, the value offered to drop to minority shareholders the 49.98 euros. 
Telefonica and PT in July 2010 reached an agreement whereby the Spanish Luso his partner acquired 30% of Vivo, which controls through Brasilcel for a price of 7,500 million euros. The firm headed by Cesar Alierta specified that this amount, 4,500 million euros would be paid at closing, 1,000 million on December 30, 2010 and 2,000 million remaining on October 31, 2011, while PT the latter may request that payment be brought forward to July 29, 2011, which would reduce the amount of 25 million euros.
If Portugal Telecom exercises this option, the amount paid by Telefonica Portugal Telecom shares fall to 62.47 euros per share, which, in turn, the value offered to drop to minority shareholders the 49.98 euros.
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