SFR ups neuf Cegetel stake to 40.66%

19 Sep 2006

French mobile operator SFR, a joint venture of Vivendi Universal and Vodafone Group, has upped its equity interest in alternative operator neuf Cegetel from 34.9% to 40.66%. According to AFX, citing people familiar with the deal, SFR acquired the additional shares after neuf’s other major shareholder, Louis Dreyfus with 35.15%, declined to exercise a call option on the shares. A report in Le Figaro confirmed the move, saying that Louis Dreyfus’ call option on half of the 5.8% stake in neuf Cegetel – acquired by SFR from Belgacom last month for EUR187 million (USD236.8 million) – expired last week, and added that SFR now holds 40.66%. neuf Cegetel plans to float on the Paris stock exchange before the end of October.

France, SFR