Spain's Telefonica has reached a deal with Portugal Telecom to buy its part of Brazilian mobile operator Vivo for 7.5 billion euros ($9.68 billion), newspaper El Pais reported on Wednesday.

 

A spokesman for Telefonica declined to comment.

 

The report, which cited sources familiar with the talks, followed a simliar one from Lisbon's O Jornal de Negocios late on Tuesday.