Will Vodafone Bid SFR Adieu?
9:05 AM -- Vodafone Group plc (NYSE: VOD) appears to have an eager buyer for its 44 percent stake in French operator SFR .
Vivendi , which owns the other 56 percent of SFR, is keen on acquiring Vodafone's share, according to Bloomberg's report of recent comments made by Vivendi CEO Jean-Bernard Levy.
But Vodafone is not likely to give up its presence in the French market so easily. Even though Vodafone has only a minority share in SFR, which is not ideal, the asset has value. In the 2008/2009 financial year, Vodafone got a £300 million (US$450 million) dividend from SFR.
Also, if Vivendi is the only buyer for the minority stake, then Vodafone probably wouldn't get the top price it would want for that asset.
— Michelle Donegan, European Editor, Light Reading Mobile
Vivendi , which owns the other 56 percent of SFR, is keen on acquiring Vodafone's share, according to Bloomberg's report of recent comments made by Vivendi CEO Jean-Bernard Levy.
But Vodafone is not likely to give up its presence in the French market so easily. Even though Vodafone has only a minority share in SFR, which is not ideal, the asset has value. In the 2008/2009 financial year, Vodafone got a £300 million (US$450 million) dividend from SFR.
Also, if Vivendi is the only buyer for the minority stake, then Vodafone probably wouldn't get the top price it would want for that asset.
— Michelle Donegan, European Editor, Light Reading Mobile
