GVT, a Brazilian telecoms subsidiary of Vivendi,  unveiled a new pay TV network that will inject competition into Latin America’s biggest and most lucrative market.

The GVT offer, which will be available to Brazilian subscribers starting next month, will provide up to 140 channels, CEO Amos Genish told reporters in Sao Paulo.

GVT’s entry into the country’s pay TV market was made possible by a new law allowing competition in a market currently dominated by three players: Net, which is controlled by Brazilian TV giant Globo; TVA, owned by publishing group Abril; and Sky, a joint operation between Globo and US company Directv.

Vivendi took control of the Brazilian company in early 2010 to access Latin America’s fastest-growing market.

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