Vivendi seeking final offers for SFR by 12 March

11 Mar 2014

French media group Vivendi has reportedly asked domestic telco Bouygues Telecom and Luxembourg-based investment fund Altice Group to submit final offers for its telecoms unit SFR by 12 March 2014, Bloomberg reports citing people familiar with the matter. According to the article, Vivendi’s board of directors is scheduled to meet this week to review the offers. A spokesman for Vivendi said its board will make a decision on SFR in due course, based on the full proposals provided by the bidders.

As previously reported by TeleGeography’s CommsUpdate, last week Vivendi received two bids for France’s second largest mobile provider in terms of subscribers, from domestic broadband operator Numericable, majority owned by Altice Group, and Bouygues Telecom; both suitors have valued SFR at around EUR19 billion–EUR20 billion (USD26.08 billion–USD27.45 billion). Numericable has tabled a bid which consists of EUR11 billion in cash (comprising EUR8 billion in debt and EUR3 million via a capital increase) and 32% of the new merged entity. For its part, Bouygues Telecom’s proposal comprises EUR10.5 billion in cash and 46% of the share capital of the new entity. Further, Bouygues Telecom has promised to stage an initial public offering (IPO) for the new company ‘as soon as possible’, with Vivendi given the opportunity to sell an additional 15% stake in the enlarged company.

France, SFR, Bouygues Telecom, Numericable-Completel, Vivendi, Altice Group,

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share