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Vivendi exits Numericable-SFR with €2 billion payment

The Vivendi office is seen in Paris on Wednesday, May 17, 2006.Vivendi has received €1.974 billion from Patrick Drahi’s investment group Altice in part-payment for Vivendi’s residual 20% stake in French cable and telecom operator Numericable-SFR.

The payment represents the balance of the purchase price for the stake agreed between the pair when they struck their deal to transfer the stake in February, and marks the completion of Vivendi’s withdrawal from Numericable-SFR.

The completion follows Vivendi’s securing of overall control of Société d’Edition de Canal Plus (SECP), the Canal Plus Group unit that controls the company’s domestic premium channels.