Vivendi Denies Vodafone Bid Approach

In a statement, the French conglomerate Vivendi has denied media reports that it has made a formal offer to buy out Vodafone's 44% stake in its mobile subsidiary, SFR. 

"Following an article that appeared in the press this morning, Vivendi denies that it has made an offer, whether informal or otherwise, to purchase Vodafone's 44 percent holding in SFR," the company said in a statement.

French newspaper, Les Echos had reported that Vivendi's former finance director Jacques Espinasse told investors in March that his group had made an informal, non-written offer of €11 billion for Vodafone's stake as the basis for talks.

However, during a conference call following the company's financial results, Vivendi's current finance director Philippe Capron told reporters that "We have made it clear that we would be willing to discuss the acquisition of the shares of SFR presently held by Vodafone,""

Posted to the site on 16th May 2007