PARIS, April 5 France's Vivendi said it
had agreed to accept cable company Numericable's bid
for its SFR telecom business, worth at least 17 billion euros
($23.3 billion) in total, over rival bidder Bouygues.
Vivendi said in a statement on Saturday its supervisory
board had unanimously voted to retain Numericable's offer, which
promised a first payment of 13.5 billion euros, a separate 750
million euro payment and finally the possibility for Vivendi to
own and then sell a 20 percent stake in the new entity.
"In total, the offer would be worth more than 17 billion
euros," Vivendi said in a statement, adding it had picked the
bid that offered the best balance between immediate cash
payments and an equity stake in the new business.
($1 = 0.7303 Euros)
(Reporting by Lionel Laurent; Editing by David Holmes)