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Bouygues, Numericable make takeover bids for SFR
2014-03-06 09:18:00| Telecompaper Headlines
(Telecompaper) Vivendi has confirmed that Bouygues Telecom and Altice, the owner of cable operator Numericable, have made binding offers for its French operator SFR. It did not disclose financial details of the offers, but Bouygues said its offer values SFR at around EUR 14.5 billion. Mindful of the French government's concerns about unemployment, Bouygues also said if its bid succeeds, there would be no forced redundancies. Bouygues bid includes EUR 10.5 billion cash and a 46 percent stake for Vivendi in the merged entity. The new company would be listed on the stock market after the merger, helping it raise cash for investments. This would also give Vivendi the option to sell another 15 percent stake. Bouygues would hold 49 percent in the new company and consolidate its results fully. Bouygues expects EUR 10 billion of synergies from the merger of the two companies, which already have a mobile network-sharing agreement in place. Altice did not disclose further details of its bid. Vivendi said its supervisory board will study the offers, but did not give a deadline for taking a decision.
Bouygues, Numericable battle it out for SFR
2014-03-06 01:00:00| Total Telecom industry news
Cableco's bid might make more sense for Vivendi since it reduces red tape, which puts a question mark over Bouygues Telecom's future.
Tags: battle
sfr
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numericable
Vivendi weighs SFR spin off, sale to Numericable - report
2014-01-21 10:07:00| Telecompaper Headlines
(Telecompaper) Vivendi is preparing to spin off French phone operator SFR as well as considering the company's sale to cable provider Numericable, whose biggest backer is invesment fund Altice. Vivendi and Numericable have discussed a deal for several months, but could not come to agreement on valuation. Bloomberg writes that SFR is valued at EUR 12 billion. The operator had 5.2 million broadband subscribers (xDSL, fibre) at the end of September 2012. Numericable had 1.7 million (co-ax, fibre). SFR also had 21.2 million mobile clients at the same date. .
Talk of Numericable buying SFR resumes
2014-01-21 01:00:00| Total Telecom industry news
French cableco's biggest investor is working on new push to consolidate European telco assets, sources say.
Altice to increase Numericable stake to 40 percent
2013-11-18 14:17:00| Telecompaper Headlines
(Telecompaper) Investment fund Altice announced that it has entered into an agreement with certain funds affiliated with Cinven and an entity affiliated with Carlyle to buy additional shares in French cable operator Numericable to increase its stake to 40 percent. The operation, which will give Altice a majority of votes on Numericable's board of directors, is expected to be completed in the first quarter of 2014. No financial details of the deal were disclosed. The acquisition is subject to antitrust approval and a waiver granted by French financial market authority AMF to file a mandatory tender offer. Under French law, a shareholder would normally be required to launch a bid for all of a company's shares after exceeding a 30 percent shareholding. Altice said that after the acquisition Numericable would continue to provide quarterly reports and public disclosure to its other shareholders.
Tags: increase
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