A report in the Financial Timesclaims the Vodafone Group is preparing an unsolicited cash offer for Vivendi's SFR mobile phone business.
Vivendi Universal declined to comment on the report.
In mid-August, Vivendi Universal chairman Mr Jean-Rene Fourtou said in a letter to employees the company hopes to become the majority shareholder in Cegetel, which owns 80 per cent of SFR.
The Financial Timessaid analysts have estimated any offer could be in the region of £8 billion. Vodafone is likely to use a £6.7 billion unused bank facility to fund the purchase, with any shortfall made up of additional short-term bank borrowings, the paper said.
Vodafone is keen to gain control of SFR because France is the only big European market where it does not have a controlling stake in its mobile operations, the paper said.
PA