London, Nov. 6 (AFP): Vodafone Group is renewing its 6.77 billion euro cash offer for media giant Vivendi Universal’s 44 per cent stake in France’s Cegetel, less than a week after the offer was withdrawn.
Vodafone said its new offer came after it reached an agreement with its fellow Cegetel shareholders — Vivendi, BT and SBC Communications — that Vivendi may exercise its pre-emption rights over Vodafone’s acquisition of BT’s and SBC’s interests in Cegetel, between November 21 and December 10.
Vodafone is offering to pay $ 6.74 billion for Vivendi Universal’s stake in Cegetel — the same terms as its previous offer made on October 16 and which last week lapsed without being accepted.
Vodafone chief executive Christopher Gent said: “We have renewed our offer because we continue to believe that Vodafone is the natural home for Cegetel and that it would be in the best interests of all parties.”
Vodafone, the world’s largest mobile telephone operator, already owns 32 per cent of SFR, Cegetel’s profit-making mobile phone arm.