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Wireless

Iliad seeks EUR 216 mln in damages from Altice over Virgin Mobile deal in 2014 – report

Tuesday 10 September 2019 | 11:00 CET | News

Iliad’s Free is seeking EUR 216 million in damages from Altice France for illegal practices during the sale process of MVNO Virgin Mobile in 2014, according to information gathered by Lettre A. At the time, French operator Free was among the parties interested in acquiring the MVNO from Carphone Warehouse and other shareholders. Altice subsidiary Numericable entered exclusive negotiations to buy Virgin Mobile for EUR 325 million in May 2014, completing the acquisition six months later.

Numericable received the support of Vivendi to fund the transaction, as the media group committed to provide EUR 200 million of the financing as part of the separate negotiations taking place with Numericable for the sale of SFR, which was completed in November 2014.

The court action aims to prove that Altice and Vivendi breached regulation by collaborating during the Virgin Mobile sale process. This is because the competition authority was evaluating whether to approve the SFR deal, and the two parties were bound to behave as competitors while the watchdog’s assessment was ongoing. 





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Categories: Mobile & Wireless
Companies: Altice France / Free / Iliad / SFR
Countries: France
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