Private-equity owned French cable operator Numericable is
preparing a cash offer for Vivendi SA's (VIV.FR) telecom operator
SFR, French TV BFM reports on its website Monday, citing
unidentified sources.
Talks between Numericable and Vivendi about a possible merger of
the two telecom companies have stalled, which is why Numericable is
now working on a bid to buy SFR entirely in cash and to then
possibly merge the two at a later stage, according to the
report.
A spokeswoman for Numericable wasn't immediately available to
comment on the report.
A spokesman for Vivendi repeated that "SFR is not for sale."
Vivendi is studying other options for SFR, such as network
sharing.
Vivendi is in the midst of a deep strategic review, as part of
which it has moved to refocus on media assets, rather than
telecoms, and which could include asset sales. Vivendi is actively
looking to sell its Brazilian telecom arm GVT and its 53% stake in
African phone operator Maroc Telecom. It is also studying potential
offers to merge SFR with others, people familiar with the matter
have said.
Newspaper website: http://www.bfmtv.com
Write to Ruth Bender at ruth.bender@dowjones.com
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