Vivendi Eu1bn convertible signals Cegetel fight still on

15 Nov 2002

Vivendi Universal gave a clear sign of its intention to fight for control of French telecoms group Cegetel yesterday (Thursday) when it launched a Eu770m-Eu1bn mandatory convertible.

The offering will be priced today (Friday) by bookrunner Deutsche Bank and takes the battle for control of Cegetel to a new level. The bond will provide Vivendi with a quarter of the financing it needs to pre-empt Vodafone's bid for the 26% of Cegetel owned by ...

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