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.
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.
Glencore International AG, the world’s largest commodities trader, has mandated three banks to study a possible initial public offering that may take place around the second quarter of this year, French daily Les Echos reported, without citing anyone.