SFR-Altice deal not a slam dunk - report (translated)
The tie-up between Altice and SFR, which on Friday announced ongoing exclusive negotiations, is not yet a confirmed deal, according to the Journal du Dimanche. The French language weekly noted that the parties in talks included the caveat in the press release that SFR parent Vivendi would meet within three weeks to look into what might happen and if it should look at other options.
The JDD also included comment from an anonymous Vivendi management source that if the deal was to fall through, Vivendi would need a back-up plan.
Another source close to Vivendi noted that should Numericable not be in a position to meet its financial guarantees, the door would be open.
The exclusive negotiations announced two days ago will be on the basis of an EUR 11.75 bn payment to Vivendi and a 32% share in the equity of the combined listed entity. It also provides Vivendi with pre-determined exit conditions.
Source Journal du Dimanche