Vodafone poised to sell SFR stake to Vivendi, paper says

21 Sep 2010

Shares in UK-based Vodafone Group climbed in trading this week, amid suggestions that it is close to securing an agreement to sell its 45% stake in French mobile group SFR to Vivendi. Shares in the British giant climbed 3.7% to GBP1.64, The Telegraph newspaper reports, quoting one analyst as saying that a deal will happen ‘either side of year-end 2010, because this is when Vivendi expects to receive USD5.8 billion for its 20% stake in NBC Universal.’ The sale of the SFR stake could generate around GBP6.4 billion (USD9.9 billion) for Vodafone, which in turn could help it realise a full price for its minority stake in US cellco Verizon Wireless. Industry watchers believe a deal over SFR could improve its position when it comes to negotiations with Verizon Communications over the terms of Vodafone’s exit from Verizon Wireless.

France, United Kingdom, SFR, Vodafone Group