A receiving circuit having a specific bandwidth for the reception of electrical waves which are frequency modulated in response to an analog signal and which are phase modulated in response to a digital signal, said receiving circuit comprising a surface acoustic wave device formed on a substrate, two pairs of input transducers, two pairs of output transducers, said two pairs of input transducers being mounted on the substrate of the surface acoustic wave device and connected, in parallel, to the input of a receiving circuit, the input transducers initiating acoustic waves corresponding to the signals applied to said input of said receiving circuit, said acounstic waves traveling over two pairs of paths beginning at outputs of said two pairs of input transducers ending at inputs of said two pairs of output transducers, the lengths of the paths of each pair being different, first and second mixers, the outputs of the first pair of output transducers being respectively connected to two inputs of said first mixer, an output of said mixer yielding the digital signal, two limiters, an output of the second pair of output transducers being respectively connected to inputs of said two limiters, the outputs of said limiters being respectively connected to two inputs of said second mixer, said second mixer having an output yielding the analog signal, the difference in the lengths of the first pair of paths introducing a delay in the order of one bit and the difference in the lengths of the paths of the second pair of paths introducing a delay equal to the inverse of twice the specific bandwidth of the receiving circuit.