Feeds

Vodafone grabs £7bn, leaves France

Sells off French assets to Vivendi

Seven Steps to Software Security

Vodafone is selling its minority shareholding in French operator SFR, netting €7.95bn by flogging 44 per cent of SFR and giving Vivendi complete ownership.

Vivendi already owns 56 per cent of mobile, fixed-line, broadband and TV supplier SFR, which boasts 20 million customers, but once the deal is completed, Vivendi will own the whole company. SFR and Vodafone will maintain a Partner Market agreement covering roaming and commercial cooperation.

Vodafone will hand back some of the cash to shareholders, buying back £4bn worth of its own shares; the rest will be dropped in the debt pile. Explaining the move, Voda's CEO Vittorio Colao talked about focusing on wholly-owned operations, rather than those over which Vodafone has less than complete control. He said:

"Our Board remains committed to realising maximum value from our non-controlled assets. The sale of our stake in SFR, at an attractive multiple, represents a significant further step in the execution of this strategy." ®

The smart choice: opportunity from uncertainty

More from The Register

next story
Auntie remains MYSTIFIED by that weekend BBC iPlayer and website outage
Still doing 'forensics' on the caching layer – Beeb digi wonk
Apple orders huge MOUNTAIN of 80 MILLION 'Air' iPhone 6s
Bigger, harder trouser bulges foretold for fanbois
GoTenna: How does this 'magic' work?
An ideal product if you believe the Earth is flat
Telstra to KILL 2G network by end of 2016
GSM now stands for Grave-Seeking-Mobile network
Seeking LTE expert to insert small cells into BT customers' places
Is this the first step to a FON-a-like 4G network?
Yorkshire cops fail to grasp principle behind BT Fon Wi-Fi network
'Prevent people that are passing by to hook up to your network', pleads plod
BlackBerry: Toss the server, mate... BES is in the CLOUD now
BlackBerry Enterprise Services takes aim at SMEs - but there's a catch
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.