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Altice offers Vivendi EUR 3.9 bln for remaining 20% in SFR
2015-02-18 09:14:00| Telecompaper Headlines
(Telecompaper) Telecom holding company Altice and its French subsidiary Numericable-SFR have made an offer to buy the 20 percent outstanding stake in Numericable-SFR held by Vivendi for EUR 40 per share. The offer values the 20 percent stake at EUR 3.9 billion and takes the total price paid for SFR to EUR 17 billion. Under the proposal, half of the stake would be bought through a share buyback programme to be approved at a Numericable-SFR general assembly. The other half will be bought by Altice France for approximately EUR 1.95 billion, plus 3.8 percent interest, before 7 April 2016. The payment has already been secured with a bank guarantee. The two stake purchases will close after the general assembly to be held no later than 30 April. Vivendi said its board will consider the offer at its next meeting 27 February.
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Category:Telecommunications