MADRID (Reuters) - Spain's Telefonica (>> Telefonica SA) on Friday said it expected the purchase of Vivendi's Brazilian broadband unit GVT to deliver synergies of at least 4.7 billion euros (3.73 billion pounds), net of integration costs.

The Spanish telecoms also forecasts net savings from the deal from the first year.

France's Vivendi on Thursday picked Telefonica for exclusive talks over the sale of GVT, shunning a rival offer from Telecom Italia (>> Telecom Italia SpA). Telefonica will fold GVT into its Brazilian mobile phone carrier Vivo .

(Reporting by Sarah White; Editing by Miral Fahmy)

Stocks treated in this article : VIVENDI, Telefonica SA, Telecom Italia SpA
Valeurs citées dans l'article : VIVENDI, Telefonica SA, Telecom Italia SpA