Altice offers €3.9 billion for Vivendi’s stake in Numericable-SFR
Vivendi has received a binding offer from Altice to acquire a 20% stake in Numericable-SFR worth around €3.9 billion.
Altice’s €40 a share offer comes three months after Vivendi completed the sale of SFR to Numericable. As part of the agreement, Vivendi received a 20% stake in the combined company, with the option to exit at a later date.
Half of Vivendi’s stake would be acquired by Numericable-SFR as part of a share buyback programme. The other 50% would be acquired by Altice France, with a payment no later than April 7 2016.
The acquisition will take effect in the days following Numericable-SFR’s shareholders meeting on April 30.