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FINANCIAL NEWS
Egypt’s Sawiris eyes Vivendi’s SFR: Report
17 Nov 2012
(MENAFN) Egyptian billionaire Naguib Sawiris is mulling buying the SFR telecom business from French group Vivendi, the Financial Times reported.
The newspaper cited Sawiris as saying he was interested in acquiring (SFR), but the problem is that Vivendi owns big assets so it would require a big group to seal the deal.
Sawiris told Le Figaro newspaper earlier this month that he was interested in opportunities in France, but said that he had “no chance”, given the four main telecom operators in the country were “Franco-French”.
Sawiris said lately that he had offered to buy a stake in heavily indebted Italian group Telecom Italia.
Vivendi Chief Financial Officer Philippe Capron said earlier this week when asked about its plans for SFR and media reports of possible combinations that there was an “effervescence” in the French telecom world.
Sawiris lost competition to private equity firm Apax Partners in an auction to buy France Telecom’s Swiss unit.
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