The acquisition will help GVT continue to grow rapidly, and Vivendi's content offerings would help GVT with its plans to deliver new services like IPTV, the companies said. It would also help Vivendi meet one of its objectives: to expand in fast-growing economies, it said.

The deal must still win the approval of GVT's board and regulators, and GVT shareholders must waive an anti-takeover mechanism to allow the acquisition, the companies said. They expect the offer to be made before the end of the year.