SFR submits buyout offer for neuf Cegetel

23 Apr 2008

Vivendi-backed SFR has filed its proposed buyout offer for neuf Cegetel, indicating its desire to pay EUR35.90 per share for the remaining 29.90% of the company its does not own, writes Thomson Financial citing a filing with markets regulator AMF. The filing does not say how long the offer will run, saying merely that neuf Cegetel shares remain suspended until further notice. On 16 April SFR and parent company Vivendi announced they had received permission from the government to close the purchase of the stake held in neuf Cegetel by the Louis Dreyfus Group. SFR outlined a EUR4.4 billion deal to buy the alternative telco in December 2007. The SFR/neuf Cegetel tie-up will create France’s second largest operator and provide strong competition for dominant telco France Telecom.

France, neuf Cegetel, SFR