Vivendi Interested in Vodafone's Stake in SFR Subsidiary
According to an interview published in the French newspaper, Le Figaro - Vivendi is now keen to buy-out Vodafone's 44% stake in its mobile network operator subsidiary, SFR. The goes against Vodafone's own wishes to buy the entire stake in the operator for themselves if the opportunity arises.
"If Vodafone ... wants to sell its stake, we are ready to buy it," Chief Executive Jean-Bernard Levy told the newspaper. "I don't think this minority participation is meant to last."
There has been speculation in the past that Vodafone would launch a hostile bid for the entire of Vivendi simply to split the company up and walk away with the SFR stake. As the company has been focusing more heavily on emerging markets, this drastic action has looked less probable. That said, France is a major missing link in the Vodafone brand across Europe.
The Mobile World subscriber database reports that SFR ended last year with some 17.8 million subscribers, giving the operator a market share of around 36%. The country as a whole has a population penetration level of 80%, which is a medium level by European standards and shows there is still growth potential in the market."
Posted to the site on 19th April 2007
