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Vivendi SA announces definitive agreement signed for combination of SFR and Numericable


Friday, 20 Jun 2014 01:14pm EDT 

Vivendi SA:Vivendi, Altice and Numericable says that they signed definitive agreement regarding combination between SFR and Numericable following very constructive dialogue with Employee Works Councils concerned.Vivendi Supervisory Board unanimously selected Altice-Numericable offer for SFR on April 05.At closing, Vivendi will receive 13.5 bln euros (excluding adjustments) and will keep a 20 pct stake in new combination, which it could sell at later stage after one year lock-up period.Closing of agreement is subject to certain conditions, in particular obtaining approval from the relevant administrative authorities.