UMG Parent Company Acquires Control Of French Mobile Operator
April 4, 2011 at 3:58 AM (PT)
VIVENDI SA, the parent company of THE UNIVERSAL MUSIC GROUP, has agreed to acquire French Mobile company VODAFONE GROUP's 44% stake in French mobile operator SFR for 7.95 billion euros ($11.3 billion), reports THE ASSOCIATED PRESS.
The deal had been expected, and will give VIVENDI 100% control of the company when finalized in JUNE.
"The transaction will create a significant increase in VIVENDI's adjusted net income, enabling us to raise the dividend to our shareholders," said Chairman JEAN-BERNARD LEVY.