Altice is buying mobile segment SFR, and the joined forces are expected to create a force to be reckoned with among French Telecoms. Vivendi and Altice are combining their SFR and Numbericable units with 13.3 billions euros or $16.6 billion going to Vivendi, which will retain a 20% stake.
Patrick Drahi, founder of Altice, said, according to Telecoms EMEA, ” …we are creating the French champion in very high speed broadband and in the convergence of fixed and mobile networks.” Drahi will serve as chairman of the combined SFR and Numbericable group.
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Numbericable was given the green light to purchase Omer Telecom, a segment of Virgin Mobile, which operates on SFR, and was conditional on Numericable to permit MNVOs to rent capacity on broadband lines. Bouygues, who was competing with Altice for the acquisition may be a takeover target, and the buyer might be Altice.