Vivendi and SFR receive purchase authorization from the Minister of the Economy, Industry and Employment

Published on

Paris, April 15, 2008

Vivendi and SFR receive purchase authorization from the Minister of the Economy, Industry and Employment

SFR together with Neuf Cegetel creates a new-generation telecommunications group

Vivendi and SFR received permission from the Minister of the Economy, Industry and Employment to go ahead with the purchase of the Louis Dreyfus Group’s equity stake in  Neuf Cegetel.

 

Consequently, in accordance with the agreement announced on December 20, 2007, SFR today acquired, at a price of €34.50 a share with the 2007 coupon attached, the entire equity stake of the Louis Dreyfus Group in Neuf Cegetel, or 28.45%. SFR now has control of Neuf Cegetel with 68.13% of its capital.

 

In the next few days, and in agreement with stock exchange regulations, SFR will file with the “Autorité des Marchés Financiers” (the Paris Stock Exchange Regulator) a Simplified Public Purchase Offer at a price of €36.50 a share with the 2007 coupon attached. This operation will be followed, if necessary, by a Public Withdrawal Offer at the same price.

 

Neuf Cegetel’s shareholders will be asked to approve the payment of a dividend of €0.60 per share at the company’s General Shareholders’ Meeting on April 21, 2008. As a result of this payment, scheduled on May 2, 2008, the price of SFR’s offer would be adjusted to €35.90.

 

The Minister’s approval is in view of new commitments made by Vivendi and its subsidiaries. They address competitor access and new market entrants to wholesale markets on SFR’s fixed and mobile networks, acceptance on the fixed network of an independent television distributor if such a player appears, as well as the availability on a non-exclusive basis on ADSL of eight new channels leaders on their particular themes (Paris Première, Teva, Jimmy, Ciné Cinéma Famiz, three M6 Music channels and Fun TV).

 

With 19 million mobile customers, 3.6 million Internet broadband customers, 10,000 employees and revenues totalling €12 billion, the newly expanded company will become a major operator capable of responding to the needs of all market segments: the general public, corporate and wholesale. This new-generation telecommunications company will play a leading role in the fields of innovation and development of new convergent services as well as rolling out very high-speed fixed (optic fiber) and mobile (3G/3G+) broadband networks in the best interests of consumers.

Important disclaimer
This press release contains forward-looking statements with respect to the financial condition, results of operations, business, strategy and plans of Vivendi. Although Vivendi believes that such forward-looking  statements are based on reasonable assumptions, such statements are not guarantees of future performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside our control, including, but not limited to, the risks described in the documents Vivendi filed with the Autorité des Marchés Financiers (French securities regulator) and which are also available in English on our web site . Investors and security holders may obtain a free copy of documents filed by Vivendi with the Autorité des Marchés Financiers at www.amf-france.org  www.amf-france.org, or directly from Vivendi. The present forward-looking statements are made as of the date of the present press release and Vivendi disclaims any intention or obligation to provide, update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise.  

This release does not constitute an offer to purchase or exchange on the Neuf Cegetel securities nor the solicitation of an offer to sell or exchange any securities of SFR, nor shall there be any purchase, sale or exchange of securities in any jurisdiction (including the United States, Germany, Italy and Japan) in which such offer, solicitation, sale or exchange would be unlawful prior to the registration or qualification under the laws of such jurisdiction. The distribution of this communication may, in some countries, be restricted by law or regulations. Accordingly, persons who come into possession of this document should inform themselves of and observe these restrictions. To the fullest extent permitted by applicable law, Vivendi and SFR disclaim any responsibility or liability for the violation of such restrictions by any person.

Press Contact – SFR
Julien
Villeret – +33 1 71 07 64 82
julien.villeret@fr.sfr.com

Press Contact – Vivendi
Antoine Lefort – +33 1 71 71
11 80
Solange Maulini – +33 1 71 71 11 73
Agnès Vetillart – +33 1 71 71
30 82

Press Contact – Brunswick
Aurélia de
Lapeyrouse / Agnès Catineau – +33 1 53 96 83 83

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