Vivendi agreed to sell SFR, France’s second-largest mobile operator, to Altice/Numericable in a deal that could value the business at more than €17 billion.
Vivendi has reached an agreement to sell its French mobile subsidiary, SFR, to cable operator /Numericable, according to Les Echos.
Altice shares climbed 4.5% to €29.53 on the first day of trading in Amsterdam, giving the company a market value of €6.1 billion.
Altice S.A, the holding company of the Numericable cable nets, has announced it intends to launch an IPO on the Amsterdam Stock Exchange.
Altice, the investment vehicle of Patrick Drahi, has taken its share in French cablenet Numericable to 40%.
Israel’s HOT remains by far and away Altice’s most lucrative cable asset.
Montreal-based Cogeco Cable has sold its Portuguese subsidiary, Cabovisao – Televisao por Cabo SA, to European group Altice for €45million. Cogeco acquired Cabovisao for $660 million (€496 million) in 2006.