Bouygues said “no” to SFR. The group’s board of directors has decided not to proceed with the bid of its subsidiary Bouygues Telecom. Numericable, SFR, owned by Altice Group, led by Patrick Drahi, offered 10 billion euros for the acquisition. In a statement released Tuesday, June 23 evening, Bouygues evokes a decision “unanimously”
“The board is convinced that the telecom market is the Dawn of a new era of growth driven by the exponential development of digital uses. It considers that Bouygues Telecom is uniquely positioned to benefit from this growth knowing he has a strong and sustainable competitive advantage through its frequencies portfolio and its 4G network known as one of the best in the market. “
The Board also found that ” offer presents a significant risk of execution that is not to Bouygues to take. “
The ad does not please the government and especially the Minister of Economy, Emmanuel Macron, who feared that “consolidation” is damaging to the mobile sector. “The employment, investment and the best service to consumers are priorities. But the consequences of consolidation are these negative ways, as demonstrated recent cases in Europe “, he had said Sunday
Read also.: After the tender offer SFR-Numericable, Martin Bouygues in a dilemma
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