Altice makes offer for Bouygues Telecom
22 June 2015 |
Altice has made an offer of approximately €10 billion ($11.4 billion) for France’s Bouygues Telecom, according to local reports.
The European telecoms group – which was rumoured to be compiling a bid for Bouygues back in February this year – made the offer via its subsidiary Numericable-SFR and if accepted, the deal would reduce the number of mobile operators in France from four to three.
As part of the agreement, Altice – owned by telecoms tycoon Patrick Drahi – has proposed merging Bouygues into Altice’s existing French operations, sources have told the Wall Street Journal.
The move would bump Numericable-SFR ahead of state-owned telco Orange, and the French government has already made clear its opposition to the deal, raising concerns over the impact it would have on investment in telecoms infrastructure and employment.
Bouygues said in a separate statement that its board would meet on Tuesday to discuss the offer.