Vivendi Universal and Vodafone preparing to roll out Live! in France
Posted on 15-Oct-2003 07:42
Filed under: News
The media group Vivendi Universal and Vodafone Group Plc announced a number of agreements designed to further improve the performance of Cegetel Groupe (France), as well as optimise the cash flows between Cegetel Groupe and its shareholders. There are four such agreements, and the first one is related to increasing the cooperation and joint economies of scale in a number of different areas:
The coordination of activities in the development, and rollout of new products and services, including Vodafone live! which will be launched later this month and
The development of operational synergies in procurement (including IT and technology) and best practice sharing. The partners expect that these arrangements will further enhance competitiveness and will therefore benefit both SFR’s customers and shareholders.
Also with these agreements Vodafone steps into some fixed line areas in France. Vivendi Universal and Vodafone have agreed in principle to simplify the structure of Cegetel Groupe through the merger of Transtel, Cofira and SFR into Cegetel Groupe, to be renamed “SFR”. Vivendi Universal would hold 55.8% and members of the Vodafone group would hold 43.9% of the share capital of the merged entity. Cegetel Groupe and SNCF have agreed to merge Cegetel Groupe’s fixed line business, Cegetel SA with Télécom Développement, the joint venture between Cegetel Groupe and SNCF, which operates the largest alternative national digital fixed line network in France. Cegetel Groupe will own 65% of the merged company.