SFR adds Numericable merger to options

Vivendi is in talks about a merger of its SFR telecoms business with Numericable, a deal that would combine France’s second-biggest mobile phone operator with one of the country’s leading cable groups.

Negotiations between Numericable’s owners and Vivendi, have been taking place in recent weeks according to reports.

The proposal being discussed would see both companies merged into a new entity, with Vivendi getting 49 per cent of the shares and €4bn while Numericable’s owners receive 51 per cent. Some reports also claim an option would be for Vivendi to take a 35 per cent stake and receive €8 billion. SFR’s value is estimated to be about €15 billion, against €3 billion for Numericable.

It is also still possible Vivendi will sell SFR to Vodafone or go for an IPO.

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