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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 picks essence

Numericable sweetens offer for SFR - report

2014-03-13 17:36:00| Telecompaper Headlines

(Telecompaper) Altice has raised its offer for SFR, following an improved bid from rival Bouygues Telecom, the paper Le Figaro reported. Altice, the owner of French cable operator Numericable, is now offering EUR 11.75 billion cash, compared to EUR 11.3 billion from Bouygues, people familiar with the matter told the paper. A committee at Vivendi will consider the bids 13 March, and the full board will discuss the offers on 14 March. Unlike Bouygues, Altice did not make a public announcement about the higher offer. The company earlier said it would not raise its initial bid of EUR 10.9 billion cash and a 32 percent stake for Vivendi in the new group. Bouygues raised its bid by EUR 800 million, to EUR 11.3 billion cash plus a 43 percent stake for Vivendi.

Tags: report offer sfr numericable

Bouygues raises offer for SFR

2014-03-13 08:47:00| Telecompaper Headlines

(Telecompaper) French conglomerate Bouygues has submitted an improved offer to Vivendi for SFR. Bouygues lifted its offer by EUR 1 billion, of which EUR 800 million in cash, to a total EUR 11.3 billion in cash and a 43 percent interest in the new entity. This new offer values SFR at EUR 15.5 billion pre-synergies and at nearly EUR 20 billion after factoring in all the synergies, Bouygues said. Under the improved offer, Bouygues' interest in the new entity would be 52 percent versus 49 percent in the previous offer. An IPO of the new company is planned as soon as the merger is completed, offering Vivendi an immediate opportunity to monetise its interest.

Tags: offer raises sfr bouygues