Vivendi has reached an agreement to sell its French mobile subsidiary, SFR, to cable operator /Numericable, according to Les Echos.
The paper said that Vivendi has already reached an agreement to sell SFR to Numericable, and the parties aim to reach a firm deal in a few weeks. Numericable is 40% owned by Altice, the holding company of founder Patrick Drahi, that went public a few weeks ago.
The deal would see Altice have a 50% stake in the combined group SFR- Numericable, while Vivendi would hold 32%.
Until now, Vivendi said it would float SFR.
