Bouygues commits to preserve jobs after SFR offer - CEO
PARIS, March 7
PARIS, March 7 (Reuters) - Bouygues, the diversified French industrial group that has made an indicative offer for its telecommunications rival SFR, is aiming to complete the deal without having to cut staff, its head told Les Echos in an interview published on Friday.
Bouygues has offered 10.5 billion euros ($14.4 billion) in cash for the 46 percent of Vivendi's SFR that the media group is seeking to spin off.
A competing bid from the French cable operator Numericable includes 11 billion euros in cash, granting Vivendi a 32 percent stake in the new company, sources said earlier.
Bouygues, whose activities also include construction, is pledging to preserve jobs as part of its offer.
"We want to reorganise the company without forced redundancies," Bouygues Chief Executive Martin Bouygues told Les Echos in an interview. "I am making a clear commitment: We will not have a redundancy plan, we will not have a plan for voluntary redundancies."
The chief executive added that, if necessary, some staff could be redeployed within the group.
Martin Bouygues also said that he did not expect prices to rise in France once the deal was done as the French regulator would ensure the market remained competitive.