PARIS, March 20 French conglomerate Bouygues
said on Thursday it had improved its offer for
Vivendi's mobile phone unit SFR as it seeks to derail a
bid from rival Numericable, which is already in
exclusive talks with Vivendi.
Bouygues said in a statement it was raising the cash
component of its offer by 1.85 billion euros ($2.55 billion) to
13.15 billion euros from 11.3 billion previously.
On March 14, Vivendi said it would enter three weeks of
exclusive talks with cable group Numericable NUME.PA to finalise
a deal around Numericable's proposal to buy SFR for 11.75
billion euros ($16.4 billion) in cash, plus a stake in the
The decision was seen as a blow to Bouygues who had also bid
Under its initial proposal, Bouygues had offered Vivendi
11.3 billion euros in cash and a 43 percent stake in the
combined entity, which would be spun off and listed on the stock
market if regulatory approval was secured.
Vivendi is now being offered a 67 percent stake in the new
($1 = 0.7255 Euros)
(Reporting by Dominique Vidalon; Editing by Andrew Callus)