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Tag: vivendi
Vivendi seeks improved offer from Altice
2014-03-25 01:00:00| Total Telecom industry news
But reports claim Numericable parent is not prepared to raise its bid for SFR.
Tags: offer
improved
seeks
vivendi
Vivendi enters exclusive talks to sell SFR to Altice
2014-03-14 16:04:00| Telecompaper Headlines
(Telecompaper) French media and telecom group Vivendi's supervisory board has examined the two offers received from Altice and Bouygues for its mobile and broadband operator SFR. The supervisory board has now decided to enter into exclusive negotiations with Altice for a period of three weeks. It considers this offer to be the most pertinent for the group's shareholders and employees, with the opportunity for effective execution. Vivendi said the offer also achieves its objective to rapidly become a leading European media and content player and develop SFR as a dynamic leader in high speed fixed and mobile telephony. The Altice offer comprises an EUR 11.75 billion payment to Vivendi and a 32 percent share in the equity of the combined listed entity. It also provides Vivendi with pre-determined exit conditions. At the end of the three weeks, the supervisory board will meet again to examine the next steps and to decide if it should put an end to the other options envisaged.
Tags: sell
exclusive
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enters
Time of the essence as Vivendi picks Numericable's SFR offer
2014-03-14 01:00:00| Total Telecom industry news
Vivendi, Altice to hold exclusive discussions for the next three weeks with a view to agreeing transfer of mobile operation.
Tags: time
offer
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essence
Vivendi Q4 revenues down 4.6% on SFR, forex effects
2014-02-25 12:14:00| Telecompaper Headlines
(Telecompaper) Vivendi reported a 4.6 percent drop in fourth-quarter revenues to EUR 5.95 billion, as its French telecom operator SFR continued to suffer from tough competition. Canal Plus increased sales 7.2 percent to EUR 1.45 billion, while SFR revenues were down 7.1 percent to EUR 2.58 billion. Universal Music posted a 9.3 percent drop in sales to EUR 1.49 billion, and Brazilian operator GVT's revenues fell 5.1 percent to EUR 412 million, with both units hurt by negative forex effects. Vivendi's adjusted EBITA was up 1.0 percent to EUR 312 million, helped by lower operating costs and a reduction in restructuring charges. Adjusted net profit improved to EUR 292 million from EUR 105 million a year earlier, following the sale of most of its games unit Activision Blizzard. Maroc Telecom, which is planned for sale to Etisalat, is excluded from the net result. On a reported basis, the net result improved to a profit of EUR 556 million versus a loss of EUR 1.48 billion a year ago. This includes EUR 2.92 billion from the Activision sale, offsetting impairment charges of EUR 2.43 billion on SFR. Vivendi reduced net debt to EUR 11.1 billion at year-end, compared to EUR 13.4 billion in 2012, thanks to divestments. The company reiterated its intention to focus on the media and content market and said it's pursuing all potential opportunities to participate in consolidation in the French telecom market.
Tags: effects
revenues
forex
sfr
Altice, Vivendi near deal on Numericable-SFR merger - report
2014-02-24 08:49:00| Telecompaper Headlines
(Telecompaper) Media and telecom multinational Vivendi has reached an agreement in principle to sell its French mobile and broadband subsidiary, SFR, to Altice, an investment company controlled by Patrick Drahi, Les Echos reports without citing its sources. The newspaper writes that this means that SFR will probably not go public, despite Vivendi's announced plans to list it this summer. Vivendi and Altice aim to reach a firm agreement within a few weeks. The operation values SFR at over EUR 15 billion, less than the valuation used when Vivendi bought out its former partner Vodafone in 2011. The potential agreement would see Altice owning over 50 percent of SFR-Numericable and Vivendi 32 percent. The merger-acquisition agreement would include around EUR 8 billion of debt, or less than four times its gross operating profit. SFR and Numericable would gain EUR 6 billion of synergies.
Tags: report
deal
merger
vivendi
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