Vivendi said Saturday it will sell SFR, the No. 2 mobile phone operator in France, to media company Altice in a deal that could be worth up to $23.3 billion.
Vivendi said it accepted a bid worth 13.5 billion euros ($18.5 billion) in a pact that also includes additional payments of up to 750 million euros ($1.03 billion). Vivendi will keep a 20 percent stake in SFR but said it may sell those holdings at a later date. According to the French conglomerate the deal represent a total value in excess of €17 billion ($23.3 billion).