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Bouygues re-opens French telecoms takeover battle with new SFR offer

21
Mar
2014

By Gwénaëlle Barzic PARIS (Reuters) – Conglomerate Bouygues re-opened the battle to buy Frances second biggest telecoms provider SFR on Thursday with a new offer less than a week after owner Vivendi began exclusive talks with rival bidder Numericable. Bouygues also enlisted the support of the government through the state CDC fund, along with existing Bouygues Telecom shareholder JCDecaux Holding, parent company of listed outdoor advertising firm JCDecaux, and the Pinault family. CDC confirmed that it would take a 3 percent stake in a combined Bouygues Telecom-SFR group. Industry Minister Arnaud Montebourg has come out in favor of the Bouygues offer and has raised a number of problems he sees with the offer from Numericable, a business controlled by the Dutch-listed group Altice.

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