PARIS, March 7 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
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.
(Reporting by Astrid Wendlandt; Editing by Kevin Liffey)