Text size:

  • Small
  • Normal
  • Large

Sawiris interested in buying Vivendi's SFR telecom business

Egyptian tycoon says "numbers are very high" in potential deal with the French group Vivendi.

Egyptian tycoon Naguib Sawiris is interested in buying the SFR telecom business from French group Vivendi, which is in the midst of a strategy review and working on asset sales, the Financial Times reported on Thursday.

"We are looking at (SFR) through one of our subsidiaries," the FT quoted Sawiris as saying. "The problem is that the numbers are very high. (Vivendi owns) big assets so would require a big group."

Sawiris told Le Figaro newspaper earlier this week 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, which lost out to private equity firm Apax Partners in an auction to buy France Telecom's Swiss unit, said on Monday 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.

"Everyone is talking to everyone and we have to talk to various parties to look at our options," he said.

He declined to comment on specific asset sales, saying the group's strategic review was going ahead "at full speed", though there was no fixed calendar for decisions.

Vivendi declined to comment.

Back to the top

More articles

Editor's Picks

 The Greens, villas: Q1 no change. 3BR - Dh210-250,000. 4BR - Dh210-260,000. 5BR - Dh220-300,000. Q1 2013-Q1 2014 5% rise. Pawan Singh / The National

In pictures: Where Dubai rents have risen and fallen, Q1 2014

Find out how rental prices in the prime locations in Dubai have altered during the first three months of the year and the current rates you will pay according to data provided by Asteco.

 Miele coffee maker making Cappuccino at Miele Gallery in Sama Tower in Dubai. The cost of this coffee maker is around Dh 17,000. Pawan Singh / The National

Space-age coffee comes at a price from Miele

Miele have taken the coffee machine to a new level with its Dh17,000 offering that is built into your kitchen.

 The bridge of Seajacks Hydra, as the wind farm installation vessel undergoes finishing touches and testing works at Lamprell’s Hamriyah facility in Sharjah before its planned delivery on June 2, 2014. Jeffrey E Biteng / The National

In pictures: Building the Seajacks Hydra

The Seajacks Hydra, a wind farm installation vessel, is undergoing finishing touches and testing works at Lamprell’s Hamriyah facility in Sharjah before its planned delivery on June 2, 2014.

 The Wind, Energy, Technology and Environment Exhibition takes place from April 14 to April 16. Above, the Dewa showroom during last year’s Wetex. Jaime Puebla / The National

April corporate and economic calendar for the UAE and overseas

From Cityscape to Wetex to stock-market holidays to nations reporting first-quarter GDP figures, here is our helpful calendar of April's business events in the UAE and internationally.

 The rush of new supply of hotel rooms pushed Dubai occupancy rates down to 87 per cent. Sarah Dea / The National

Dubai hotel room rates rise 10 per cent

The rush of new supply pushed occupancy rates down to 87 per cent, a dip of 2.6 per cent from the previous year. Winter months are the strongest for Dubai hotels, with occupancy and prices falling to half their peaks by July.

 Get the latest information on credit cards, bank accounts and loan products in the UAE. Mark Lennihan / AP Photo

Rates report: Latest on UAE loans, accounts and credit cards

Souqamal.com brings you the latest interest rates on banking products in the UAE.


To add your event to The National listings, click here

Get the most from The National