Vivendi gears up for SFR listing – report – Mobile World Live

Vivendi gears up for SFR listing – report

11 OCT 2013

Vivendi, the French media and telecoms conglomerate, has set the wheels in motion for a stock market listing of its SFR telecoms unit, which runs France’s second-biggest mobile operator behind Orange.

According to a Reuters source, Vivendi has hired Generale and Citigroup as lead banks for the SFR listing.

“The calendar is basically aiming… for a fall IPO window,” said the unnamed source, adding the move is part of Vivendi’s efforts to trim its focus on music and pay-tv.

SFR has been struggling in its home market, feeling the heat of competition from Iliad – a low-cost mobile and fixed-line operator – which might put a dampener on the IPO.

A mix of competitive and regulatory pressure saw year-on-year revenue drop at Vivendi’s French telecoms division 11.3 per cent, to €5.1 billion, during H1 2013. Mobile revenue slumped 17.4 per cent, to €3.2 billion.

The French 4G market, too, is heating up with third-placed Bouygues recently launching LTE services

As part of its move away from telecoms, Vivendi is in talks to sell its stake in Maroc Telecom.

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Ken Wieland

Ken has been part of the MWC Mobile World Daily editorial team for the last three years, and is now contributing regularly to Mobile World Live. He has been a telecoms journalist for over 15 years, which includes eight...More

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