For most experts, if the operation was complicated origin, insofar as it involved the number one sector, the failure of responsibilities are widely shared by all players.
But for some, the state has not necessarily facilitated the conclusion of an agreement by adding difficult conditions acceptable to Martin Bouygues end of negotiations, a situation which denies Bercy ensuring that State has not intervened in the last 72 hours.
“ What surprises is how the State behaved towards Martin Bouygues, there was excessive requests and final offensive and unacceptable that were added. the policies have meant to derail the agreement , “says Stéphane Dubreuil, president of consulting firm Stallych.
But if Martin Bouygues was considering the idea to sell its subsidiary to enter the capital of Orange, he never hid the fact that there was the opportunity to continue only if conditions not suit him, confident in the benefits of Bouygues Telecom.
“ Our plan A remains the + + stand alone, our strategy is working well, it was a company in working order. We considered plan B but there is no problem to continue only “, do we repeated several times on the side of the industrial group.
“ There was a misunderstanding from the start, Martin Bouygues was never seller of his company, he exchanger, where appropriate, to remain in telecoms, and it c is totally different “recalls his part Mr. Dubreuil.
The fact remains that, in the opinion of all, the sector needs a consolidation that would end the price war while restoring margins to companies to cope the significant future investments, both the fiber in mobile.
“ In telecoms, we are on fixed cost savings: build a network costs the same for all but the damping is different depending on the subscriber park that is available and investments. intensified as technologies change ever faster, the weakest will have more difficulty “explains Sylvain Chevallier.
And in this regard, SFR and Bouygues Telecom are the first appointed by the majority of analysts, due to delays in terms of investment in the mobile network on one side and the fiber of other delays that the two operators are now trying to fill.
“ SFR needs to make the promotion to replenish its customer base and Bouygues Telecom will have to continue to be aggressive in advancing his, it will be war in the coming months on french market , “said Thomas Coudry, an analyst at Bryan, Garnier & amp; Co and specialist telecoms.
– Storming of the European market –
For the incumbent, however, the end of negotiations with Bouygues could allow him returning to attack the European market, for which he has never hidden his interest.
“ Orange had a tactical interest in curbing the European level, so as to keep the record of negotiations on the Franco-French ground. Now they will be able to recover all the stops “says Stéphane Dubreuil.
A view that joins Sylvain Chevallier, recalling that “ they continued to acquire assets in Africa during the negotiations. They are in this logic of expansion and this opens the door to other operations . ”
And it will not be the only car Iliad-Free did not hide monitor the evolution of things in the UK market and remedies imposed by the European Commission to the redemption by O2 Three.
“ Niel eyeing to the UK, he is awaiting the decision of the Commission, it will be interesting to see what she will ask as remedies and this could encourage Iliad to put its eggs rather the Channel “recalls Mr. Coudry well.