French media group Vivendi, parent company of domestic telco SFR, has finalised the acquisition of ICT solutions unit Telindus France from Belgian incumbent Belgacom for EUR95 million (USD131.67 million), after securing the approval of the French competition authority, Autorite de la Concurrence. Belgacom and Vivendi entered into exclusive negotiations over the unit in February 2014, pointing out that the deal would allow them to ‘build on their complementary expertise and experience of collaboration’. Spokespeople for Vivendi and SFR, however, confirmed that the media group made the move in order to strengthen SFR’s unified communications services for enterprise users ahead of the company’s spin-off.
As previously reported by TeleGeography’s CommsUpdate, in September 2013 Vivendi announced plans to demerge its telecoms unit SFR from its media business, in a move designed to reduce its exposure in the telecoms market and focus on its more profitable media operations. Vivendi subsequently agreed to sell SFR to Altice Group of Luxembourg, the majority owner of Numericable, for EUR13.5 billion in cash and a 20% stake in the resultant SFR-Numericable group.