Vivendi signs definitive agreement on SFR sale after union talks

PARIS Fri Jun 20, 2014 1:51pm EDT

The Vivendi logo is pictured at the main entrance of the entertainment-to-telecoms conglomerate headquarters in Paris March 14, 2014. REUTERS/Charles Platiau

The Vivendi logo is pictured at the main entrance of the entertainment-to-telecoms conglomerate headquarters in Paris March 14, 2014.

Credit: Reuters/Charles Platiau

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PARIS (Reuters) - France's Vivendi (VIV.PA) said on Friday it had signed a definitive agreement to sell its telecom unit SFR to cable company Numericable (NUME.PA) after "constructive" talks with labour unions.

The deal, signed between Vivendi, Numericable and Numericable's parent company Altice, would give Vivendi at least 13.5 billion euros ($18.33 billion) in cash plus a 20-percent stake in the new entity.

The closing of the agreement is subject to other conditions, in particular, French antitrust regulator approval.

(Reporting by Maya Nikolaeva; Editing by Pravin Char)

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