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10-04-2012 09:18:00

SFR's Levy Says Wave Of Customer Departures Has Stopped -Report

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PARIS -(Dow Jones)- The wave of customer departures from French mobile phone company SFR, which intensified when competitor Free Mobile started offering its discount service at the start of the year, has now subsided, Jean-Bernard Levy, the chief executive of Vivendi SA (VIV.FR), SFR's mother company, says in an interview with Le Figaro Tuesday.

Levy, who will run the company in the short term, says the rate of departures from SFR has slowed substantially since March 15, and clients are now coming back. Le Figaro says SFR has 21 million clients in France.

Frank Esser left the helm of SFR in January after underestimating the impact of new competitor Free Mobile, which at the start of 2012 started offering unlimited calls and texts for EUR19.99 euros a month--half the price of its rivals.

Newspaper website: www.lefigaro.fr

-By Paris Bureau, Dow Jones Newswires; 33-1-4017 1740

(END) Dow Jones Newswires

April 10, 2012 03:18 ET (07:18 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

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