Bouygues Telecom, Free-iliad Group and Orange have submitted a joint non-binding offer to enter into negotiations with a view to acquiring a range of activities from the Altice group in France, but their offer has been immediately rejected.

The offer covered most of SFR’s assets, but excluded stakes in Intelcia, UltraEdge and XP Fibre and Altice Technical Services, as well as the Altice group’s activities in French overseas departments and regions.

Orange says it has taken note of the Group Altice’s decision to reject the joint non-binding offer.

This offer corresponded to a total enterprise value of €17 billion for the Altice group assets concerned in France and gave an indicative implied enterprise value for the whole of Altice France of more than €21 billion.

Bouygues Telecom, Free-iliad Group and Orange envisaged to share out the targeted activities as follows:

• the B2B business to be taken over mainly by Bouygues Telecom, and by Free-iliad Group;
• the B2C business to be shared between Bouygues Telecom, Free-iliad Group and Orange;
• the other assets and resources (in particular infrastructure and frequencies) to be shared between Bouygues Telecom, Free-iliad Group and Orange, with the exception of SFR’s mobile network in less densely populated areas, to be taken over by Bouygues Telecom.

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Categories: Articles, Broadband, Business, M&A, Telco

Tags: altice, Bouygues Telecom, Orange, SFR