French conglomerate Bouygues has upped the stakes in its battle with Numericable and Altice for control of mobile and fixed network operator SFR by tabling a new offer of €13.5 billion for the Vivendi-owned company.
Bouygues’s latest offer tops by €1.4 billion the €11.75 billion offer currently under discussion between Vivendi and Altice. The Altice offer was itself €450 million higher than Bouygues’ previous proposed purchase price.
Bouygues is now offering Vivendi a 21.5% in the combined entity in place of the 43% previously tabled. Bouygues would take a 67% stake, up from the
Bouygues has also claimed the support of Vivendi shareholder the Caisse des Dépôts et Consignations and other long-term shareholders.
Vivendi, which has agreed to a three weeks period of exclusive negotiations with Altice over the future of SFR – acknowledged that it had received a new offer from Bouygues.
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