Vivendi-owned SFR is launching a full buyout offer for France's second-largest ISP, Neuf Cegetel. The EUR35.90 (USD55.56)-per-share offer is valid from May 19 to Jun 13. SFR made the bid after receiving the green light from France's stock exchange watchdog, AMF. A full buyout offer was expected after SFR bought a 28% stake in Neuf for USD3.2bn last month, taking its total holding to 77.9%. Acquiring Neuf will make it Europe's largest alternative telecoms operator, with combined revenues of EUR12bn (USD18.7bn), 19m mobile users and 3.6m broadband customers. It will also make SFR, which currently only offers mobile services, France's second-largest telecoms operator to take on market leader France Telecom.
Vivendi owns 56% of SFR and is keen to acquire full control of the carrier, which is 44% owned by Vodafone.
StrategyEye's related categories: Mobile Operators, ISPs - Wireless - Mobile, ISPs - Wired, PSTN - General, PSTN - Alt Nets
StrategyEye's related companies: Vivendi, Neuf Cegetel, France Telecom, Vodafone Group Plc, SFR
