Vivendi Said to Seek Improved SFR Offer From Drahi’s Altice

Vivendi SA is seeking an improved offer for its phone unit SFR from Patrick Drahi’s cable holding company Altice SA after Bouygues SA unexpectedly boosted its bid last week, according to people familiar with the talks.

While Vivendi still prefers Altice’s proposal because of a higher likelihood of antitrust approval and quicker exit from the enlarged entity, the French company would like Altice to narrow the gap with Bouygues’s bid, said the people, asking not to be identified because the deliberations are confidential. Altice is discussing such a move, even though no final decision has been made, said one of the people.