Vivendi confirms Altice approach for SFR deal

25 Feb 2014

French media group Vivendi has confirmed that it has been approached by Luxembourg-based investment fund Altice Group, which is the majority owner of French broadband operator Numericable, ‘regarding a potential alliance’ between Vivendi’s telecoms unit SFR and Numericable. According to a report from Digital TV Europe, however, Vivendi has not received any formal offer and its supervisory board ‘will announce a decision, if necessary, as and when appropriate’.

As previously noted by TeleGeography’s CommsUpdate, earlier this week local media alleged that Numericable was in discussions with Vivendi to acquire its subsidiary SFR in a deal that could be worth EUR15 billion (USD20.61 billion). Further, the two companies were said to have already reached an agreement in principle, and were aiming to finalise the deal in a few weeks. Numericable’s private equity owners Carlyle, Cinven and Altice first entered into discussions with Vivendi over a multi-billion euro merger with SFR in October 2012, although talks between the involved parties subsequently stalled, in February 2013.

France, Altice Europe (formerly Altice Group), Altice France (SFR), SFR, Vivendi