Vodafone is surrendering its stake in the French SFR, which is one of the largest mobile companies in the country, to the senior party Vivendi.
It’s a minority stake, technically. Vodafone has 44 percent of SFR but it’s selling it to Vivendi for €7,950 million – almost €8 billion. That’ll mean Vivendi owns the lot.
After a series of French letters, it was agreed that while Vodafone won’t look after SFR anymore, it will still see its “commercial cooperation” continue for at least three years.
As usual it’s subject to Competition Authority approval.
Something is moving and shaking in Vodafone inner circles. Just last week it announced that it wants to buy out Essar’s $5 billion stake in the Indian market, leading to it becoming the majority owner with 75 percent.
According to the Mail, Vodafone is also considering selling on its share in the Polish market, while it has recently got rid of shares in China and Japan.