Vodafone considering French takeover

Telecoms giant Vodafone is preparing to bolster its size in Europe with a £8bn (€12.6bn) bid for French mobile group SFR, it was reported today.

Vodafone is set to make an unsolicited cash offer for the firm, which is controlled by Vivendi Universal, according to the Financial Times.

The British group is thought to be keen to gain control of SFR because France is the only large European market where it does not have a controlling stake in its mobile operations.

It was thought any offer could be in the region of £8bn (€12.62bn).

Analysts said a deal would be a good move.

Chavan Bhogaita, at Bear Stearns, said: “It is certainly something they have been looking at.

“It would make sense, but it is not really surprising. It has been on the cards – it is the one area where they don’t have a strong presence.”

A spokeswoman for Vodafone said the group would not comment on “speculation”.