More Vodafone - Vivendi Rumours

The Financial Times has reported that Vivendi may consider bidding for the stakes in its mobile phone subsidiary that it does not already own. This would put it on a direct collision with Vodafone which has made no secret of its desire to buy those stakes for itself.

Vivendi currently owns 44% of Cegetel, which itself owns 80% of the French mobile phone network, SFR. BT owns 26% of Cegetel along with SBC Communications which holds 15%, and both have previously said that their stake is up for sale once a shareholder pack expires in a few weeks time. Vodafone has already intimated that it wants to buy both stakes, and with Vivendi now considering a bid, the shareholders could end up getting more for its stake than they had originally expected.

While Vodafone is keen to buy out Vivendi's stake in Cegetel, Vivendi's Chairman and CEO, JR Fourtou has previously denied in a letter to shareholders that there are any plans to sell the company's stake.'"

Posted to the site on 16th September 2002