Numericable Said to Be Close to $20 Billion Deal to Buy SFR
Published on: 25th Feb 2014
Note -- this news article is more than a year old.
By: Ian Mansfield
French cable network operator Numericable is again reported to be in talks to buy the French mobile network SFR.
SFR is currently owned by Vivendi, but is being split off ahead of an independent stock market listing. However, Numericable, who has often been linked with rumours of a bid for the company is again said to be seeking an outright trade purchase.
Such a deal could value SFR at around EUR15 billion (USD20.6 billion).
The local newspaper, Les Echos said that the two companies have agreed the deal in principle, and are now just ironing out the final details. A formal statement is expected within a few weeks.
Numericable is 40 percent owned by Altice, a holding company which itself just launched its own stock market listing.
Numericable is however smaller than SFR, so a deal is expected to involve around EUR8 billion of debt, but also cost savings of some EUR6 billion.