Telefonica Brasil has published the prospectus for a new share offering due to take place on 28 April, with the proceeds earmarked to cover the acquisition of local broadband provider GVT.

According to Reuters, the share sale has been delayed by nearly two weeks following a review by CVM, the country’s securities exchange commission.

Following approval for the acquisition of GVT by Cade, Brazil’s competition watchdog, Telefonica Brasil immediately registered a request with CVM for the sale of common and preferred shares.

With a green light from CVM, the company and its banks plan to complete a roadshow and price the offering on 27 April. The new shares will start trading on the Sao Paolo stock exchange on 29 April.

Telefonica hopes the combination of Vivo, the largest mobile operator in Brazil, and GVT will enable it to develop appealing quadplay packages.