A battle of billionaires is underway in France as media company Vivendi has reportedly given bidders until March 5 to submit 
final offers for its telecom unit, SFR, the second largest operator in France. The two contenders are the French cable company Numericable, whose largest shareholder is Altice, which is the holding company of billionaire Patrick Drahi; and the No. 3 telecom in France, Bouygeus, owned by billionaire Martin Bouygues.
Bouygeus’ bid may face regulatory hurdles since the acquisition would decrease the number of major telecom players in France from four to three. Orange is currently the market leader and relative newcomer Iliad, which has disrupted the market in France with its low cost subsidiary called Free, is No. 4.
Sources peg the Numercable/Altice offer at $20.25 billion while Bouygeus preliminary offer is said to be around $20.77 billion. Vivendi will be weighing the competing offers against simply spinning off SFR. It is expected to deliver a final decision in March.
More potential job cuts at Deutsche Telekom: Management board member Claudia Nemat told a German magazine that the company may further reduce its workforce across Europe. The German telecom giant has been on an acquisition spree lately with an eye toward Eastern Europe, recently buying out its Czech Republic unit and looking to increase its stake in Greece’s OTE. The formerly state-owned OTE has already cut 1,500 jobs. Nemat did not say how many more could be cut or where.
More telecom news from Europe:
Tele2 considers leaving Norway. The Swedish-based carrier is considering leaving the Norwegian market after failing to secure spectrum in the country’s latest auction. Tele2 has hired investment firm ABG Sundal Collier to help evaluate its options.
AT&T can’t stop talking about Europe: Despite telling U.K. regulators in January that it had no interest in acquiring Vodafone at least within the next six months, AT&T held meetings in Barcelona last week about possible European expansion—all without actually mentioning the word Vodafone.
European Union poised to slash broadband installation costs: A draft EU directive on broadband cost reduction has received supporting votes from the member states. The legislation will help ensure new and renovated buildings in the EU are broadband ready, simplify permit processes and increase civil works coordination, among other measures. It is projected to save companies €40 billion to €60 billion.
