SFR Formally Launches Public Offer for Neuf Cegetel

PARIS -(Dow Jones)- French entertainment conglomerate Vivendi's mobile phone unit SFR has formally launched its public offer for French telecommunications group Neuf Cegetel, according to a filing Thursday with the French stock exchange watchdog AMF.

According to the filing, SFR has committed to buying the Neuf Cegetel shares it doesn't already own for EUR35.90 a share, beginning May 19 and ending June 13.

The filing also states that SFR already own 77.9% of the shares in Neuf Cegetel.

In April, SFR said it received permission from the French government to purchase Louis Dreyfus Group's 28.45% stake in Neuf Cegetel.

The takeover of Neuf Cegetel will create an integrated telecommunications provider which could rival the French telecoms giant France Telecom.

-By William Horobin, Dow Jones Newswires; +33 1 4017 1740; william.horobin@dowjones.com

(END) Dow Jones Newswires

Posted to the site on 15th May 2008