Bouygues to Fund 24 Billion Dollar SFR Deal Without Sales
The French conglomerate plans to finance its joint cash bid for rival operator SFR without divestments or additional credit lines. Chief Financial Officer Stephane Stoll confirmed the group's financial structure is sufficient as first-quarter operating profit rose 11% to 77 million euros.
BOUYGUES SA will fund its $24B cash bid for SFR without selling assets or seeking new credit lines. The deal represents the largest telecommunications acquisition in France and Europe in recent years. Bouygues leads a consortium including ORANGE and Iliad's Free in exclusive talks with Altice France.
### Financing the SFR Acquisition Chief Financial Officer Stephane Stoll said Bouygues' financial structure allows it to finance the deal without difficulty. Stoll told reporters that asset disposals are not necessary to complete the transaction. "No asset disposals are envisaged to finance this — it is absolutely not necessary," Stoll said after presenting first-quarter results.
