Neuf Cegetel takeover gets go-ahead

April 17, 2008 – French mobile operator SFR has received the go-ahead from the country’s antitrust authorities to purchase a 28.45% stake in alternative local telco Neuf Cegetel from Louis Dreyfus group, giving SFR majority control with a 68.13% stake.

Following approval of the deal, Neuf Cegetel’s Board of Directors announced that they have received the resignation of company Chairman and CEO Jacques Veyrat, appointing Frank Esser to replace him, as well as three Directors representing the Louis Dreyfus group.

The combined company will now serve 3.6mn broadband subscribers and 19mn mobile phone customers.