SFR partners in disagreement over company status

15 Mar 2004

UK-based mobile operator Vodafone has opposed a move by French conglomerate Vivendi Universal to transform SFR, the French mobile operator owned by the two companies, into a limited partnership. According to the Financial Times, Vivendi, which owns 55.8% of SFR, is looking to change SFR’s status so that it can reduce the cellco’s taxable liabilities by loading it with losses accumulated by any of Vivendi’s various other shareholdings. However, Vodafone, which owns 43.9% of the operator, has rejected the move outright, with many insiders holding the belief the world’s largest mobile operator is now considering launching a takeover offer for Vivendi Universal in a bid to take full control of SFR.

France, SFR, Vodafone UK