Sunday, June 21, 2015

SFR Bouygues Telecom wants to buy: all understand … 6 – The Obs

“SFR is offering 10 billion for Bouygues Telecom”, as the “Sunday Journal” in its Sunday edition June 21. 6 questions about the ins and outs of the operation which, if it goes through, totally chamboulerait the landscape of French telecoms.



1 How was the negotiation?

“Sunday Journal” which is based on several sources, says that “the owner of SFR presented there ten days a takeover offer from a subsidiary of the Bouygues group.”

Patrick Drahi puts on the table “a little over 10 billion euros “. A generous offer, therefore, Bouygues Telecom is estimated at 8 billion euros by the market, as recalled by the weekly. A key, “all of Bouygues Telecom and its 11 million mobile customers.”

In March, the “JDD” already argued that SFR Bouygues had approached for a buy, while evoking an offer EUR 7.5 billion.

According to information from “Sunday Journal” confirmed to AFP by sources close to the dossier, the bid will be considered “Tuesday” in any case “earlier this week” by Bouygues Telecom Board of Directors.

2 Why Macron s’ he opposes the operation

When asked about this operation by AFP, Emmanuel Macron said it opposed?

The consolidation today is not desirable for the sector, according to Minister of Economy

And the minister to advance its arguments to counter the offer.: “The employment, investment and the best service to consumers are priorities. The consequences of a consolidation are these negative ways, as demonstrated recent cases in Europe,” responded the Minister of Economy.

The time is not opportunistic several reconciliations that may have an interest which is not found by the general interest, “added Emmanuel Macron.

3 What changes for the sector?

If the offer is successful, it chamboulera deeply the landscape of French telecoms and especially that of mobile phones, from three to four operators in January 2012 with the sensational arrival of Free Mobile.

Note that according to the “JDD”, the scheme currently under discussion is planning associate the operators Free (Iliad group, founded by Xavier Niel, co-shareholder of “Obs”, Ed) and Orange: the first recover a portion of frequencies, antennas and of Bouygues Telecom stores, and the second could also resume employees.

Orange Sunday denied information which claimed not to participate in this operation.

Still, the offer by Numericable, SFR is “the most successful and more serious “in recent years in terms of restructuring of the French telecoms landscape, a source close to the matter told AFP. This source, however, stressed that the Bouygues Telecom’s board of directors may well reject

If the offer is confirmed, it will then obtain the approval of the Competition Authority.: as “it is private interests, only the Competition Authority can give the green light or not,” the source said, in comment to the opposition expressed by Emmanuel Macron.

4 Why Drahi has much to gain from the deal?

“You have to understand that this transaction, if successful, will solidify the building of Mr. Drahi in France, and in a sense ‘dérisquer’ profile, make it stronger in the eyes of creditors, “Judge a source close to the matter.

Patrick Drahi is the head of a media empire and telecommunications in France including in particular the newspaper “L’Express” and “Liberation”.

Read

SFR: Patrick Drahi, the new Nawab telecom

In March 2014, he had managed to s ‘seize SFR after a long battle with Bouygues Telecom by acquiring the operator to Vivendi for 13.36 billion euros.

The operation had opened the way for the formation of Numericable, SFR group, which has since absorbed Virgin Mobile and Telindus, while its parent Altice, led by Patrick Drahi, took control of Portugal Telecom then Suddenlink Communications, the seventh cable US -operator.

5 What is the expected financial package?

“Patrick Drahi proposes to pay in cash, with a new loan from BNP Paribas, “the JDD.

6 What social consequences it would repurchase?

No details are known at this time in terms of social consequences. At SFR, Fabrice Pradas, central delegate of Unsa first union at the operator says AFP that if the bid materializes, “it would be a disaster for employment in terms of internal and duplicates the telecom subsidiary. “

EH with AFP

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