Numericable wants to raise 4.7 billion euros to buy SFR

by bold-lichterman

4.7 billion euros: this is the sum that the cable operator Numericable seeks to raise as part of its takeover of the telephone operator SFR. On October 29, he announced that this capital increase in cash would be carried out with maintenance of shareholders’ preferential subscription rights.

More precisely, “each shareholder of Numericable Group will receive a preferential subscription right per share held at the end of the trading session of October 30, 2014. The subscription of new shares will be carried out at the subscription price of 17.82 euros per share. (ie 1 euro nominal and 16.82 euro issue premium) at the rate of 15 new shares for 7 existing shares ”mentions the group. The offer will run from October 31 to November 12. It will be open to the public, only in France.

Announced in April, the purchase by Numericable from Vivendi of its telecoms subsidiary received on Monday October 27 the conditional green light from the Competition Authority, which on July 30 opened an in-depth examination. It set the following conditions: Numericable will be able to buy SFR through asset sales and the opening of its cable network to its competitors. Following this transaction, Vivendi is expected to collect a little over 13 billion euros with a 20% stake in the future SFR-Numericable entity.