Another day brings another update to the story of the battle for control of French mobile operator SFR.
Wednesday dawned with yet another statement from Bouygues Telecom, demonstrating just how desperate it is to get its hands on Vivendi's mobile unit.
The telco revealed that it has two offers on the table for SFR and both are still valid. Those bids are one submitted on 12 March, in which Bouygues improved on its initial offer for SFR, and another tabled on 20 March, in which the firm increased the cash element but reduced the stock element.
"In response to requests from certain Vivendi shareholders, Bouygues maintains the validity of the offer submitted on 12 March," Bouygues said in a statement. "This offer gives Vivendi a larger interest in the new entity and therefore a greater share of the resulting synergies and value creation."
The 12 March offer would give Vivendi €11.3 billion in cash and a 43% stake in the combined Bouugyes Telecom/SFR entity. The later offer is more about the cash component, being made up of €13.15 billion in cash and 21.5% in equity.
"Both offers remain valid until 25 April 2014," Bouygues said. "Vivendi will be able to choose the option it considers the most satisfactory."
Of course, Vivendi could well choose to stick with Altice's offer of €11.75 billion and a 43% stake in the entity that would result from the merger of its Numericable unit with SFR.
The firm has been in exclusive talks with Alticefor more than a fortnight. It will be free to consider Bouygues' offers once that exclusivity period expires on 4 April.
Another day brings another update to the story of the battle for control of French mobile operator SFR.
Wednesday dawned with yet another statement from Bouygues Telecom, demonstrating just how desperate it is to get its hands on Vivendi's mobile unit.
The telco revealed that it has two offers on the table for SFR and both are still valid. Those bids are one submitted on 12 March, in which Bouygues improved on its initial offer for SFR, and another tabled on 20 March, in which the firm increased the cash element but reduced the stock element.
"In response to requests from certain Vivendi shareholders, Bouygues maintains the validity of the offer submitted on 12 March," Bouygues said in a statement. "This offer gives Vivendi a larger interest in the new entity and therefore a greater share of the resulting synergies and value creation."
The 12 March offer would give Vivendi €11.3 billion in cash and a 43% stake in the combined Bouugyes Telecom/SFR entity. The later offer is more about the cash component, being made up of €13.15 billion in cash and 21.5% in equity.
"Both offers remain valid until 25 April 2014," Bouygues said. "Vivendi will be able to choose the option it considers the most satisfactory."
Of course, Vivendi could well choose to stick with Altice's offer of €11.75 billion and a 43% stake in the entity that would result from the merger of its Numericable unit with SFR.
The firm has been in exclusive talks with Alticefor more than a fortnight. It will be free to consider Bouygues' offers once that exclusivity period expires on 4 April.
No comments:
Post a Comment