Numericable in Talks to Buy Virgin Mobile France
Published on: 16th May 2014
Note -- this news article is more than a year old.
The shareholders in the French MVNO, Virgin Mobile have entered into talks to sell the company to the cable operator, Numericable.
Numericable is already in the middle of completing a much larger deal to buy the mobile network, SFR. The MVNO currently buys its wholesale access from Orange, and can be expected to migrate to SFR if both deals are completed as expected.
In a short statement, Carphone Warehouse, which owns 46% of Virgin Mobile France said that it has entered into exclusive talks with Numericable that could see the MVNO sold for EUR325 million.
The other shareholder is the Virgin Group, which owns the remaining 54% of the company.
A sale of the MVNO has been expected for some time, and such a deal was heightened yesterday when CPW announced a merger in the UK with Dixons. The 46% stake in the mobile network no longer being a core part of the merged company.
During the exclusivity period CPW said that the parties will carry out the necessary consultations with employee work councils, with the transaction also being subject to the approval of the French Competition Authority.