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Vivendi agrees to Numericable-SFR/Altice sale

March 2, 2015 09.36 Europe/London By Robert Briel

Numericable officeVivendi has accepted the offer of Numericable-SFR and Altice to purchase Vivendi’s 20% interest in the telecommunications operator.

Altice, through its subsidiary Altice France, and Numericable-SFR announced that they have entered into the final agreements with Vivendi regarding the acquisition of the 20% stake Vivendi owns in Numericable-SFR, for a price of €40 per share, following the approval by Vivendi’s supervisory board of their offer dated February 17th, 2015.

Numericable-SFR will acquire half of Vivendi’s stake through a share buyback programme which will be submitted to a vote at the shareholders’ meeting of Numericable-SFR. The remainder of the Vivendi’s stake will be acquired by Altice France at the same time, with a payment to be made no later than April 7, 2016 and subject to an interest of 3.8% per annum.

The payment by Altice France of approximately €1.948 billion plus interest of 3.8% per annum has been secured by a bank guarantee.

The closing of this transaction is expected to occur in the days following the next shareholders’ meeting of Numericable-SFR, which will be held no later than April 30, 2015.

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Related

Filed Under: Editor's Choice, Finance, Newsline Tagged With: Altice, France, Numericable-SFR, Vivendi Edited: 11 May 2015 09:14

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About Robert Briel

Arnhem-based Robert covers the Benelux, France, Germany, Austria and Switzerland as well as IPTV, web TV, connected TV and OTT. Email Robert at rbriel@broadbandtvnews.com.

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