Vivendi chooses to sell SFR to Altice in €17B+ deal

Vivendi (VIVEF) has decided to sell its SFR unit to Luxembourg-based cable and mobile provider Altice despite Bouygues sweetening its offer for the mobile business at the last minute.

Altice will pay €14.25B in cash and give Vivendi a 20% stake in a company that will be created via the merger of SFR and Altice's French Numericable subsidiary. The whole deal is worth over €17B ($23.3B), above the €16-16.5B that Bouygues bid.

In addition, Vivendi believes that selling SFR to Altice "presents the lowest competition risk."

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