SFR, owned by the French telecom tycoon and media Patrick Drahi, formulated a Bouygues Telecom bid for “a little over ten billion euros” says The Sunday Journal June 21 This offer was confirmed by a source close to Martin Bouygues in World. A board is expected on Tuesday to review it.
The negotiations with Mr. Drahi last for about three weeks. And while Bouygues is not a priori seller, it will be difficult to resist the proposal, according to the same source. Another familiar with the situation highlights: “The deal values Bouygues Telecom almost as much as the entire group, it will be very difficult for Martin Bouygues refuse”
“. Patrick Drahi proposes to pay in cash “ through a loan from BNP Paribas, adds the Journal of Sunday, that the amount advanced is ” very high, 25% more expensive than the 8 billion estimated by the market “ for Bouygues Telecom.
This announcement does not please at least not to the Minister of Economy, Emmanuel Macron, for whom consolidation not “desirable” now for the sector. Reacting quickly to the announcement of the offer, the Minister reiterated Sunday his credo in this regard: according to him, the concentration is the enemy of investment. He believes that “the time is not opportunistic comparisons, which many may find an interest that is not found by the general interest.” However, only the competition authority could scupper the deal. The agreement with Xavier Niel (patron of Iliad, parent company of Free, also a shareholder of World individual) on the sale of its network of antennae and part frequencies Bouygues Telecom concluded during the abortive assault on SFR in 2014, could be reactivated
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Also according to the JDD, SFR would take over all of the 11 million mobile customers of Bouygues Telecom. An agreement was reached with Free “to avoid obstacles on competition” : the rival group of Xavier Niel “take over part of frequencies, antennas and Bouygues shops” writes JDD.
The redemption attempts by Orange and Free in 2014 had failed. Patrick Drahi was the only option that has not been tested last year: a marriage between Bouygues Telecom and SFR, Numericable the new group
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If this was indeed carried out, the French market no longer count as three operators. By buying Bouygues Telecom, SFR become the first French mobile operator with half the market, and the second for Internet access, behind Orange. Numericable owned by Patrick Drahi, had managed to seize SFR in March 2014 after a Homeric battle against Bouygues, putting on the table 13.36 billion euros to buy the telecom operator to Vivendi
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The deal paved the way for the formation of Numericable, SFR group has since Virgin Mobile absorbed and Telindus, while its parent Altice, led by Patrick Drahi, took control of Portugal Telecom and Suddenlink Communications, the seventh US cable operator.
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