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Bouygues extends SFR bid, adds €500M breakup fee

  • Bouygues (BOUYY) has extended its revised offer for Vivendi's (VIVHY) French mobile telephone unit SFR by two and a half weeks until April 25 and said it would pay a breakup fee of €500M ($690M) if regulators block a merger of Bouygues Telecom with SFR.
  • Bouygues' action comes after it sweetened its offer last month in response to Vivendi choosing to conduct exclusive negotiations over SFR with Luxembourg-based cable and mobile provider Altice.
  • Bouygues has offered €13.15B for SFR and for Vivendi to receive a 21.5% stake in the combined Bouygues Telecom-SFR. Altice has bid €11.75B to merge its Numericable unit with SFR, with Vivendi to get 32% in the combined firm.
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