Vivendi’s $11.5B Acquisition Of Vodafone’s 44% Stake In SFR Approved By EC
June 10, 2011 at 06:32 AM EDT
The European Commission yesterday granted French entertainment and telecommunication services conglomerate Vivendi approval for its acquisition of Vodafone’s 44% stake in SFR , the company announced this morning. The transaction, which is valued at 7.95 billion euros (roughly $11.5 billion), should be completed in the next few days. Vivendi henceforth owns 100 percent of SFR, a French mobile phone and Internet services company with over 20 million customers and more than 12,6 billion euros in revenue for 2010.