March 21, 2014 / 7:21 PM / 3 years ago

Bouygues says new offer for SFR runs until April 8

1 Min Read

PARIS, March 21 (Reuters) - The new takeover offer French conglomerate Bouygues has made for Vivendi's telecom unit SFR runs until April 8, a company spokesman said on Friday.

Bouygues re-opened the battle to buy France's second biggest telecoms provider on Thursday, less than a week after Vivendi began exclusive talks with rival bidder Numericable. The Vivendi-Numericable talks are scheduled to last three weeks - until April 4.

The April 8 deadline, which the spokesman told Reuters was linked to the offer's financing terms, had not been disclosed in the improved offer announcement.

Under its new proposal, Bouygues said it will pay Vivendi another 1.85 billion euros in cash, taking the cash element of its offer to 13.15 billion euros and leaving Vivendi with just 21.5 percent of a separately listed Bouygues Telecom-SFR entity instead of 43 percent under its previous proposal.

Reporting by Natalie Huet; Editing by Andrew Callus

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below