Vivendi considering floatation of SFR
Telecoms and media company Vivendi is reportedly considering the floatation of French mobile operator SFR.
In worldwide reports today, the company has also declared it will not sell any assets at a discounted rate.
Vivendi is in the midst of a review that could divide its media and telecoms businesses and, at a meeting in Paris, Jean-Francois Dubos, chief executive at Vivendi, said the company was looking at all options for SFR.
“[The company is] putting in place the most pertinent strategy for SFR so we would have the option of proceeding to a stock market listing,” Dubos said.
“The priority in effect is to reinforce our position in the new competitive environment we are now facing.”
Potential partnerships for SFR include French cable group Numericable, Bouygues Telecom and France Telecom, according to the Financial Times.
SFR’s performance suffered setbacks last year following the arrival of low-cost rival operator, Free Mobile.
Dubos said that the company’s main objective was to reinforce its position as a leader in media and content, while maximising the value of its telecoms activities.
As part of its strategy to reduce debt and finance future restructuring, Vivendi is also selling its stake in Moroccan telecoms group Maroc Telecom, which received fully funded bids from Etisalat and Ooredoo last week.