Altice Confirms $15B Bid For Vivendi's SFR Mobile Unit

Law360, New York (March 11, 2014, 1:28 PM EDT) -- French telecom holding company Altice SA, controlled by billionaire Patrick Drahi, said Tuesday it had offered €10.9 billion ($15.1 billion) cash plus stock to acquire Vivendi SA's SFR unit, confirming details of the offer in its competition with rival Bouygues SA for the mobile phone and Internet provider.

Altice said it had made a fully financed firm offer for the French mass media and telecommunications giant's SFR unit through its controlled telecom company Numericable SA. The offer, which includes €10.9 billion in cash plus a 32 percent...
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