SFR Begins Tender for Neuf Cegetel Shares It Doesn't Own

PARIS -(Dow Jones)- French mobile phone operator SFR has initiated its tender offer for the shares in telecom provider Neuf Cegetel it doesn't already own, and trading in the target company's shares will remain suspended until further notice, the French financial markets oversight body AMF said Tuesday.

SFR already owns 68.13% of Neuf Cegetel following its acquisition of a 28.45% stake from Louis Dreyfus Technologies earlier this month.

SFR is offering EUR35.90 for every Neuf Cegetel share over a period of 20 trading days.

SFR, which is 56% owned by media group Vivendi, is France's second-largest mobile telecommunications operator.

-By David Pearson, Dow Jones Newswires; +331 4017 1740, david.pearson@dowjones.com

(END) Dow Jones Newswires

Posted to the site on 22nd April 2008