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DirecTV jockeys to buy GVT

The satellite TV provider is reported to be a front-runner among 4 bidders eyeing Brazilian telecom company GVT, which sells phone, broadband and pay-TV services. All first-round bids reportedly top $7.75 bil. DirecTV (DTV) is Brazil's No. 2 pay-TV service provider. Shares rose 0.4% to 49.36.