SFR becomes €13bn acquisition target for Egypt’s Sawiris

Egyptian billionaire Naguib Sawiris is considering a bid for Vivendi's SFR, according to the Financial Times, but he said the likely €13bn price tag is too high for him to fund alone. “We are looking at [SFR] though one of our subsidiaries,” Sawiris told the FT. “The problem is that the numbers are very high. [Vivendi owns] big assets so would require a big group.”

However, Sawiris has attempted to calm speculation surrounding the deal by claiming there is no hurry: “For the first time in my life I have zero personal debt and zero corporate debt. In this environment, it's a healthy position.”

FierceWirelessEurope: SFR becomes €13B acquisition target for Egypt's Sawiris; TelecomTV content partner.