Vivendi to sell SFR to Numericable

February 24, 2014 09.25 Europe/London By Robert Briel

numericableVivendi has reached an agreement to sell its French mobile subsidiary, SFR, to cable operator /Numericable, according to Les Echos.

The paper said that Vivendi has already reached an agreement to sell SFR to Numericable, and the parties aim to reach a firm deal in a few weeks. Numericable is 40% owned by Altice, the holding company of founder Patrick Drahi, that went public a few weeks ago.

The deal would see Altice have a 50% stake in the combined group SFR- Numericable, while Vivendi would hold 32%.

Until now, Vivendi said it would float SFR.