French Telecoms Prepare $23.5 Billion SFR Takeover Bid
Bouygues, Orange and Iliad will notify regulators of their 20.35 billion euro SFR deal. The move would reduce the number of French mobile operators to three.
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BOUYGUES SA, ORANGE, and Iliad signed a $23.5 billion deal to acquire and split Altice France's SFR. The €20.35 billion transaction marks one of the largest European telecoms acquisitions in recent years. Consolidation would reduce the number of French mobile operators from four to three, testing European antitrust limits.
Iliad CEO Thomas Reynaud said on Monday morning that the group will notify competition authorities about the plan within days. The bidders signed a memorandum of understanding with Altice France on Saturday.
