Bouygues sweetens offer for Vivendi's SFR

|About: Bouygues SA ADR (BOUYY)|By:, SA News Editor

Bouygues (BOUYY) has increased the cash component of its of bid for Vivendi's (VIVEF) SFR to €15B ($20.6B) from €13.15B in a deal valued at €16B, or up to €16.5B including an "earn-out clause."

Vivendi would also receive 10% of a new company that would be formed from a merger between SFR and Bouygues Telecom.

Vivendi's supervisory board is meeting today to decide whether to finalize a deal with its preferred bidder, Altice, which has made a bid valued at €20B including debt. Altice has offered €11.75B to merge its Numericable unit with SFR, with Vivendi to get 32% in the combined firm. Bouygues' bid could re-open the process.