Numericable holding firm on existing offer for SFR

Numericable owner Altice has no intention of raising its offer for Vivendi’s SFR following Bouygues’ improved offer for the French telco, according to a report in the Wall Street Journal.

Bouygues on Thursday made a new offer of EUR13.15 billion for SFR, an increase of EUR1.85 billion on its previous offer.

According to the Journal, citing an unnamed source, Altice owner Patrick Drahi has decided not to increase his offer and hopes to strike a definitive deal with Vivendi before the window of exclusivity between the pair expires on April 4.

Bouygues said at the end of last week that its improved offer will be on the table until April 8, four days after the end of the exclusive negotiations between Vivendi and Altice.

Bouygues has made the case that Vivendi has a duty to consider its new offer irrespective of its agreement to enter into three weeks of exclusive negotiations with Altice.