Vivendi closes in on Neuf Cegetel buyout

12/20/2007 | International Herald Tribune

SFR, Vivendi's French mobile-phone unit, has reached a preliminary deal to buy the 30% stake in Neuf Cegetel held by commodity-trading group Louis Dreyfus, a move that would lead to a bid for the remaining shares in the telecom company. Vivendi said today that it would pay a total of $6.33 billion for Neuf Cegetel in order to boost its broadband presence in France by creating an integrated telecom provider to rival market leader France Telecom.

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