Vivendi, Europe’s largest entertainment group, on Friday night said it was poised to take control of GVT, the Brazilian broadband operator, after outbidding Telefónica of Spain.

The French media and telecoms company said it had acquired 39.7 per cent of GVT’s shares and had unconditional options to buy a further 19.6 per cent. Vivendi said it was launching a mandatory tender offer for 100 per cent of the Brazilian operator’s capital at R$56 per share, valuing the company at R$7.2bn ($4.1bn).