April 1, 2014 / 6:26 AM / 4 years ago

REFILE-Bouygues extends SFR offer, outlines break-up fee

(Corrects paragraph three to say “ends on April 4,” not “ended on April 4”)

PARIS, April 1 (Reuters) - The takeover offer French conglomerate Bouygues has made for Vivendi’s telecom unit SFR is extended to April 25 from April 8, the bidder said on Tuesday.

Bouygues, which is battling rival offeror Numericable for control of SFR, also said it was committed to paying a break-up fee of 500 million euros ($689 million) should regulatory authorities refuse to approve its takeover.

A period of exclusive talks between Vivendi and Numericable ends on April 4.

Under a new proposal made on Mar. 20, Bouygues said it would 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.

“Bouygues wishes to allow Vivendi the time to examine its offer in a calm and detailed manner, and to proceed with all the necessary discussions that such an important operation requires,” the company said in a statement.

$1 = 0.7256 Euros Reporting by Maya Nikolaeva; Editing by Andrew Callus and Erica Billingham

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