Vivendi SA chose to sell its SFR mobile unit to Altice primarily for regulatory reasons, Chief Executive Officer Jean-Rene Fourtou tells Les Echos. *Fourtou says SFR-Bouygues entity wouldn’t have passed regulatory test with 47% of the market *Fourtou says Bouygues’s offer would have posed a risk for up to 6,000 jobs *Fourtou says Altice offers growth potential for both companies with synergies of cable and mobile. The offers doesn’t pose a risk for jobs, he tells Les Echos. *Related story: NSN N3MKFZ6KLVRF <GO>
Banco Santander SA, Spain’s biggest bank, bought the private banking unit of BNP Paribas SA in Miami to help to win more business from wealthy Latin American clients, two people with knowledge of the matter said.
Numericable SA and its shareholder Altice SA are preparing an offer valued at about $20 billion to merge with Vivendi SA’s French telecommunications unit SFR, according to a person familiar with the matter.
Electricite de France SA plans to take another month to decide on whether to sell its U.K. distribution network to cut debt, French daily Les Echos reported, without saying where it got the information.
Francois Villeroy de Galhau, BNP Paribas SA’s co-chief operating officer, denied that he’s leaving the bank to become President Francois Hollande’s chief of staff, Les Echos reported, citing an interview. * Link to Les Echos story (French): NSN MX9CSH3HBS3K <GO>