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SFRs Chief Executive Officer announced that a spinoff of the French phone company from its owner Vivendi SA is the only plan for the unit in question. An alternative merger involving the second-largest carrier in the country was also dismissed.

The Chairman and Chief Executive Officer of SFR – Jean-Yves Charlier explained to reporters that the planned separation of SFR is “well advanced” and is expected to lead to a stock listing on July the 1st 2014. SFR has a 2012 revenue estimated to 11.3 billion Euro (15.4 billion dollars). Mr. Charlier said in his statement cited by Bloomberg: “We have one plan, and only one – its splitting SFR from Vivendi. Were not at all operating a dual-track scenario. Theres only a single track.”

People with knowledge of the matter reported last month that Numericables largest investor – Altice SA – is making a renewed push to consolidate telecommunications assets in Europe. This is happening while Vivendi SA and Numericable SAS, which provides cable broadband services, have been negotiating over an eventual merger for a year without being able to reach an agreement on valuation.

An initial public offering, which took place last week, allowed Altice SA to raise 1.3 billion Euro, providing the company with the opportunity to raise capital for possible deals. According to some regulatory filings, while the initial public offering is subject to a so-called share lockup lasting 180 days, an exception allows Altice SA to issue new shares only 45 days after the IPO in case the proceeds are used to finance a merger or acquisition.

Vivendi SA, which will ask its shareholders in June for approval to its split into two, will aim to file details of the spinoff plan for SFR to market regulators by March 2014, people with knowledge of the matter revealed.

The spinoff is part of Vivendis reorganization plan around media, music and broadcasting assets. According to some analysts working for Liberum Capital Ltd., SFR is valued at 12 billion Euro.

Mr. Charlier, the companys Chairman and Chief Executive Officer, said in a statement cited by Bloomberg: “We have an ambitious plan to re-position SFR, focused on cash flow and differentiating products. It will be up to investors to decide if this, as well as the French telecoms industry eventually being reshuffled, makes for an attractive equity story.”

Vivendi SAs shares fell by 1.40% in Paris to EUR19.66 by 15:42 GMT, and its one-year return rate is up 31.48%.

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