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Vivendi confirms offers for France's SFR by Numericable, Bouygues

  • Vivendi (VIVHY, VIVEF) has confirmed both cable giant Numericable and telecom/construction conglomerate Bouygues have made bids for its SFR mobile unit. The company adds each bid comes with financing commitments.
  • Reuters has reported Numericable's bid values SFR at €15B ($20.6B), and would give Vivendi a 30% stake in the post-merger company.
  • Regulators would likely give less scrutiny to a deal with Numericable than one with Bouygues, given the former wouldn't lower France's mobile carrier count. Either deal could yield a tougher competitor for SFR rivals Orange (ORAN +1%) and Iliad (Free).
  • As of September, Orange had 26.8M subs, SFR had 21M, Bouygues had 11.1M, and Iliad had 7.4M.
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