Sunday, 04 December 2016

Numericable gets SFR nod with €13.5bn bid

By Mary Lennighan, Total Telecom
Monday 07 April 14

Vivendi agrees to sell mobile unit to cable operator, despite five separate offers from Bouygues Telecom, which now finds itself in a difficult position.

Vivendi has agreed to sell its SFR mobile unit to Altice's Numericable in a deal initially worth €13.5 billion. The deal was announced on Saturday, immediately after rival bidder Bouygues Telecom tabled its fifth and final unsuccessful offer for SFR. Under the terms of the agreement, Altice will pay Vivendi €13.5 billion on the closing of the deal, as well as a possible additional earnout payment of €750 million, based on the new entity's financial performance. Vivendi will take a 20% stake in the combined Numericable/SFR entity and it will have the option to sell that stake at a later date…

Vivendi has agreed to sell its SFR mobile unit to Altice's Numericable in a deal initially worth €13.5 billion. The deal was announced on Saturday, immediately after rival bidder Bouygues Telecom tabled its fifth and final unsuccessful offer for SFR. Under the terms of the agreement, Altice will pay Vivendi €13.5 billion on the closing of the deal, as well as a possible additional earnout payment of €750 million, based on the new entity's financial performance. Vivendi will take a 20% stake in the combined Numericable/SFR entity and it will have the option to sell that stake at a later date…

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