PARIS, March 20 (Reuters) - Shares in French conglomerate Bouygues turned positive on Thursday afternoon after French newspaper Le Monde said it was expected to make a new offer to purchase telecom business SFR, the mobile phone unit of Vivendi
Bouygues could not be immediately reached for comment.
On March 14, Vivendi said it would enter three weeks of exclusive talks with cable group Numericable 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 resulting business.
The decision was seen as a blow to conglomerate Bouygues BOUY.PA, which had also bid for SFR.
Bouygues shares were up 1.9 percent at 1615 GMT, recovering from losses. Numericable shares were down 2.8 percent
Reporting by Dominique Vidalon; Editing by Andrew Callus