Takeover of SFR: Bouygues Télécom plays extensions and offers 500 million euros in the event of failure

by bold-lichterman

Bouygues undertakes to pay 500 million euros in the event of rejection by the Competition Authority …

Bouygues Télécom has chosen to play extra time in the battle between it and Numericable for the takeover of SFR. After having proposed 13.15 billion euros to acquire the operator in the red square – or 1.85 billion euros more than its previous proposal – [lire notre article : SFR-Numericable : Bouygues contre-attaque et dépose une nouvelle offre à plus de 13 milliards, ndlr] the group announces that it is extending the validity of its offer until April 25, 2014.

Even more, he proposes to compensate Vivendi, the parent company of SFR, up to 500 million euros in the event of failure of the negotiations, in particular “if the regulatory authorities refuse to approve the merger agreement or if Bouygues withdraws its authorization request taking into account the remedies required ”.

In exclusive discussion with Altice, the holding company of Numericable, a letter from Jean-René Fourtou, the chairman of the board of Vivendi, was sent last week to Martin Bouygues to assure him that his new offer would be examined by the supervisory board [lire notre article : Rachat de SFR : Vivendi pourrait étudier la nouvelle offre de Bouygues, ndlr].