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Vivendi To Pay $11B For Full Control Of Mobile Provider

Law360 (April 4, 2011, 12:47 PM EDT) -- French media giant Vivendi SA on Sunday announced plans to acquire full control of cellphone service company SFR by buying Vodafone SA's 44 percent stake in the business for $11.3 billion.

Under the terms of the stake hand-off, which is still subject to regulatory approval, Vivendi will shell out €7.75 billion ($11 billion) in cash and will also pay Vodafone a final dividend of €200 million ($284.8 million) when the deal closes, which both companies expect to happen by the end of June.

The final dividend...
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