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Industry: Email Alert RSS FeedVodafone agrees to give Vivendi more time on Cegetel. (Global Wireless).
RCR Wireless News, November, 2002
LONDON--Vodafone Group plc has agreed with Vivendi Universal S.A on the dates during which Vivendi can pre-empt Vodafone's bid for stakes in French operator Cegetel held by British Telecommunications plc and SBC Communications Inc. In addition, the London-based global mobile operator renewed its cash offer of $6.6 billion to Vivendi for its Cegetel holding.
Vodafone agreed that Vivendi is entitled to pre-empt its Cegetel bids from Nov. 21 to Dec. 10, giving the French company more time to accept Vodafone's offer, which Vivendi initially rejected last week. The companies are both struggling to take control of Cegetel, which holds 80 percent of French mobile operator SFR.
Vivendi is reportedly in discussions to raise the funds to counter...
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