Vivendi Pushing Bidders to Submit Offers to Buy SFR Quickly
Published on: 11th Mar 2014
By: Ian Mansfield
France's Vivendi has given the two companies vying to buy its SFR mobile network subsidiary until tomorrow to submit final offers for the company.
Both Bouygues Telecom and Altice's Numericable have made indicative offers, but have now been asked to submit final offers.
Both offers are said to value SFR at around USD20 billion, although the exact mix of cash and shares is understood to vary between them.
Vivendi's board of directors is due to meet at the end of the week to discuss the offers, although it is not expected to make a recomendation as to which bid to accept so soon.
Technically, the company is still pushing ahead with plans to spin SFR off into a separate company, and may choose to carry on with that plan if it feels it offers more value to shareholders.
Realistically though, due to the cash offer from the bidders, most expect that SFR will be sold to one of the two buyers, with a deal announced within the next couple of weeks.