Bouygues loses out to Numericable on SFR takeover
French mobile operator Bouygues has lost out in its bid to acquire SFR, after the parent company of its takeover target, Vivendi, began negotiations over the acquisition with cable operator Numericable.
Numericable’s offer, which values SFR at approximately €14.75 billion, trumped Bouygues’ bid of €11.3 billion.
Bouygues outlined its disappointment with the decision in a statement, saying it regrets the choice for the future of French telecoms, but added it would continue to play a central role in the market.
Bouygues is France’s third-largest telco in terms of subscribers, with its 4G network covering 69% of the French population.
“As we promised at the launch of our 4G network, we [have] continued to expand our coverage very quickly and, at this stage, we are pleased to confirm that Bouygues Telecom remains the leading 4G operator in France,” said Olivier Roussat, chairman and CEO of Bouygues Telecom.
“Our goal remains to provide our customers with 4G coverage to match their increasing interest in mobile broadband,” he added.