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Jan 28, 2010

BIS chief cheers end of dollar lending, warns on leverage

DAVOS, Switzerland (Reuters) – Central banks’ withdrawal of emergency U.S. dollar lending is a positive sign that financial markets are returning to health, the head of the Bank for International Settlements said on Thursday.

In interviews with Reuters and Reuters Insider Television, BIS general manager Jaime Caruana also warned commercial banks against being too greedy with profit targets as the financial environment improves.

Oct 14, 2009

Telefonica hopes to close GVT buy in 2 mths

BRUSSELS, Oct 14 (Reuters) – Spain’s Telefonica <TEF.MC> hopes to complete the acquisition of Brazil-based GVT <GVTT3.SA> in about two months if no counterbid emerges, the company’s chairman said on Wednesday.

“I really don’t know (whether there will be a counterbid). GVT is very complementary for Telefonica … (If there isnt any bid) the deal could be closed in something like two months,” Cesar Alierta said in an interview with Reuters Television.

Oct 14, 2009

Telefonica hopes to close Brazil GVT buy in 2 mths

BRUSSELS, Oct 14 (Reuters) – Spain’s Telefonica <TEF.MC> hopes to complete the acquisition of Brazil-based GVT <GVTT3.SA> in about 2 months if no counter bid emerges, the company’s chairman said on Wednesday. “I really don’t know (whether there will be a counter bid). GVT is very complementary for Telefonica… (If there isnt any bid) the deal could be closed in something like 2 months,” Cesar Alierta said in an interview with Reuters Television. Telefonica’s Brazil unit Telesp made a 6.5 billion reais

($3.78 billion) offer for GVT last week, topping a previous bid by Vivendi <VIV.PA> by 20 percent. With regard to Telefonica’s interest in buying Telecom Italia’s <TLIT.MC>’s German broad-band unit Hansenet, Alierta said talks are advancing and the final outcome should be seen before year-end. “I think we are getting closer, but we will see in the coming weeks. I think whatever happens will happen before year-end,” he said.