MADRID - Spanish telecommunications giant Telefonica on Saturday pulled out of negotiations to acquire a euro7.15 billion ($9.3 billion) stake in Brazil's leading cell phone company Vivo. Telefonica said in a statement to Madrid's stock exchange early Saturday that the deal fell through after Portugal Telecom's board of directors failed to accept the Spanish company's offer by the deadline. "The deal has been extinguished," Telefonica said. Though PT shareholders voted two weeks ago to...
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