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.
Read the rest of this entry »