Bouygues has informed Vivendi that it has extended the validity of its offer made on March 20. This offer has now been prolonged from April 8 until April 25. In doing so, Bouygues wishes to allow Vivendi the time to examine its offer in a calm and detailed manner, and to proceed with all the necessary discussions that such an important operation requires. Bouygues adds that it is committed to paying a break-up fee of EUR500M if the regulatory authorities were to refuse to approve the merger agreement or if Bouygues were to withdraw its request for approval on account of the conditions laid down by the regulators. This pledge underlines Bouygues' confidence that it will be able to obtain all the regulatory approvals.