Universal parent enters talks to sell telco arm
Universal Music Group parent has entered exclusive talks with one of two bidders looking to buy the conglomerate’s telecom arm SFR.
Competitors Bouygues and Altice both but offers on the table at the end of last week.
Bouygues offered $15.8 billion for a 53% stake in the telco with Vivendi retaining 43% and French outdoor advertising firm JCDecaux to take the remaining 4%.
Meanwhile, Altice offered €11.75 billion in a cash deal that would see Vivendi retain 32% of SFR. ...
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