SFR to pay up to €4 billion for Bouygues Telecom assets

French operator SFR is reportedly set to pay as much as €4 billion for assets of Bouygues Telecom.

Under a proposed deal that would carve up the group, Orange would acquire Bouygues Telecom for €10 billion in shares and cash. It will then sell a significant chunk of Bouygues’ fixed-line and mobile customers to SFR, according to sources of Les Echo

Iliad is expected to acquire Bouygues Telecom’s spectrum, network and shops for over €2 billion.

On Wednesday, Orange CEO Stephane Richard reportedly said that a deal with SFR and Iliad is near complete. “I think we roughly agree on the major points of this dividing up,” he said.

Last June, Bouygues rejected a €10 billion deal from SFR’s Drahi to acquire the unit, with its CEO Martin Bouygues saying a sale would face antitrust barriers and risk jobs.