SFR-Numericable: Bouygues counter-attack and submits a new offer for more than 13 billion

by bold-lichterman

This new offer values ​​the company at more than 17 billion euros …

While Vivendi had announced that it had entered into exclusive negotiations with Numericable, Bouygues decided to play its cards on the table to revive itself by formulating a new takeover offer. More specifically, it offers 13.15 billion euros to afford SFR, ie 1.85 billion euros more than its previous offer for the part paid in cash, and 1.4 billion more “in its component in cash to the competing offer ”. The company of Patrick Drahi (Altice, parent company of Numericable) had indeed offered 11.75 billion euros.

“Bouygues confirms an amount of 10 billion euros of synergies created by the merger of Bouygues Telecom and SFR, including 5 billion euros of synergies relating to the mobile network secured by the agreement signed with Free on March 9, 2014” explains the group. And to specify that his proposal would value the operator in the red square at 17.4 billion euros.

Bouygues also recalls that many manufacturers are joining it – including La Caisse des Dépôts et Consignations, the Pinault family or JCDecaux Holding – and that its direct stake in SFR’s capital would rise to 67% against 52% in the offer. former. Vivendi would retain 21.5% of the capital of the new group, for which “the IPO […] is envisaged as soon as the merger is completed, thus offering Vivendi immediate access to liquidity for the residual balance of its stake ”.