French Regulator Opens In-Depth Probe Into Numericable's SFR Acquisition
July 30 2014 - 10:36AM
Dow Jones News
By Inti Landauro
PARIS--France's anti-trust regulator said Wednesday it has
opened an in-depth probe into the acquisition of the SFR mobile
telephone company by French cable TV operator Numericable Group SA
(NUM.FR).
"The authority considers the operation raises serious doubt
about possible obstacles to free competition and requires the
opening of an in-depth probe (phase 2)," a statement on its website
said.
The phase 2 probe includes questioning all market players as
well as other local institutions about the deal. The probe can last
for up to 65 working days but may be extended.
The board of French telecom-to-media group Vivendi SA (VIV.FR)
in April accepted an offer for SFR from Numericable valuing the
company at 17 billion euros ($22.83 billion). The transaction is
conditional on the approval of all French regulators.
Numericable is a unit of Altice SA (ATC.AE).
Write to Inti Landauro at inti.landauro@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires