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[HoosierHoagie]

Telefonica, Portugal Telecom reach Vivo agreement

By Barbara Kollmeyer

July 28, 2010, 3:21 a.m. EST

MADRID (MarketWatch) -- Spain's Telefonica on Wednesday said it has reached a preliminary agreement with Portugal Telecom [pt:ptc] over the sale of the latter's stake in Brazilian mobile operator Vivo Participacoes . Telefonica and Portugal Telecom jointly own Vivo