Bouygues Telecom: dismantling is underway – Challenges.fr

The dissolution of the Bouygues Telecom network operator raises the question of the resumption of its assets. The three operators Orange, SFR and Free are set to agree on the allocation method, although still some sticking points, according to Le Figaro. Operators have accepted the will of Martin Bouygues to sell its subsidiary to 10 billion euros despite assets that would be worth in reality only 6 billion. Foreclosure of a competitor is the price.

Part of this amount would be paid in Orange securities. According to Le Figaro, the State, first shareholder of the group with 23% of the capital, does not fall below the 20% mark. Bouygues have also agreed to settle 10% of Orange’s capital and could agree to block its level of participation in the context of its declaration of intent vis-à-vis the market authorities. In all cases, Sébastien Soriano, President of ARCEP, the telecom sector policeman, had also drawn “red lines”: “It is not necessary that this transaction, if done, results in a strengthening Orange’s position, “he declared in mid-January, then it would lead to a return of a market with three operators

First agreement on the sharing of assets

As regards the sharing of assets, Free is ready to buy the essential frequencies of the subsidiary of the Bouygues group, which would allow it to have a quality network equivalent to that of its competitors. However, the most recent of operators, “more reserved” regarding networks, understands the daily which states that all “is valued just over 2 billion euros.”

Regarding the sharing of the 12 million mobile customers and fixed businesses of Bouygues Telecom, representing a turnover of 4.4 billion euros and “more or less valued at 8 billion euros,” Orange wants s’ monopolize the 2 million premium customers, while free and SFR share the remaining customers (B & amp; You, Bbox and professional), explains Le Figaro still without identifying its sources. They should pay “about 4 billion euros,” according to the valuation method on which the three groups agreed, ie a calculation “in multiple turnover”. Still, all this must be approved by the competition authority, visibly concerned

folder

Some sticking points

Martin Bouygues has clearly raised the condition of no layoffs 8,000 employees of its subsidiary. Only voluntary departures may be considered. Free employees could take, including those associated with networks, but the question is more difficult on shops and their employees advance the Figaro, that Free could acquire fifty on 550. The other could be transferred to an outside actor the telecom field. Finally, the three groups are struggling to agree on “Taxes on capital gains to pay on assets sold by Orange and SFR to Free” and “costs of dismantling” of Bouygues Telecom.

Orange , however, denied Saturday, February 13 “formally that any agreement was arrested on a sharing scheme and asset valuation of Bouygues Telecom.” According to a spokesman of the group, “discussions are continuing between the various stakeholders.”

(With AFP)