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Bouygues signs deal to sell network to Free if it buys SFR

2014-03-10 08:30:00| Telecompaper Headlines

(Telecompaper) French operator Bouygues Telecom has reached an agreement to sell its mobile network of 15,000 base stations to Free Mobile for EUR 1.8 billion if Bouygues's merger with Vivendi's SFR is successful. Bouygues CEO Olivier Roussat announced the deal to French paper Le Journal du Dimanche, and Free confirmed the agreement in a statement. The deal to divest Bouygues's mobile network and some frequencies pre-empts the Competition Authority's anticipated remedies and levels the playing field with Numericable, the cable operator that is also vying for SFR but has no mobile network.

Tags: free network sell deal

Bouygues makes bid for rival SFR

2014-03-06 17:36:19| BBC News | Business | UK Edition

French corporation Bouygues makes a 10.5bn-euro (8.7bn) takeover bid for mobile phone operator SFR.

Tags: makes bid rival sfr

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.

Tags: make bids takeover sfr