Bouygues raises offer for SFR

News General France 13 MRT 2014
Bouygues raises offer for SFR

French conglomerate Bouygues has submitted an improved offer to Vivendi for mobile and broadband operator 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, Bouygues Telecom-SFR. 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 combined 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.

Altice, the owner of cable operator Numericable, is offering Vivendi EUR 10.9 billion in cash and a 32 percent stake in the merged Numericable-SFR group. Altice's founder, Patrick Drahi, told Les Echos previously that he would not modify the offer. Vivendi is expected to consider the rival offers by 14 March.

Categories:

General

Companies:

SFR,  Vivendi,  Altice Europe,  Numericable

Countries:

France

Tags:

Voice services, Data services, Network Access, Unified communications, Wireline, Wireless, Internet Access, M&A buyouts & divestments

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