By Stefano Rebaudo, Stephen Jewkes and Pamela Barbaglia MILAN (Reuters) - Telecom Italia will make a bid valued at roughly 7 billion euros ($9.2 billion) for Vivendi's Brazilian broadband unit GVT , which would leave Vivendi with a 15 to 20 percent stake in the Italian group, said four people familiar with the matter. Telecom Italia is competing with Spain's Telefonica for control of GVT, which sells high-end broadband and pay-TV packages to consumers in Brazil. Telefonica, Telecom Italia's biggest shareholder, offered Vivendi around 4 billion euros in cash for GVT plus a 12 percent stake in the newly combined group. Brazil is crucial for both Telefonica and Telecom Italia, because its market still has growth potential, especially in broadband and pay-TV, compared with the more mature market in Europe.
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