Bouygues Monday confirmed receiving the Altice Group, owned by businessman Patrick Drahi and parent Numericable-SFR, a “ unsolicited ” Bouygues Telecom and plans bring together members of its board of directors Tuesday to study it.
“ No negotiation is in progress ,” said Bouygues in a statement.
Altice also confirmed in a separate statement, have filed a tender offer. Its subsidiary SFR-Numericable announced at the same time that if the merger were successful, it intended to sell certain assets to the contractor Iliad Xavier Niel, which controls the operator Free.
“ Following confirmation by Altice of its offer to acquire, through its subsidiary Numericable-SFR, Bouygues Telecom, Numericable, SFR announces entering into exclusive negotiations with Iliad for resale of a portfolio of assets as part of this offer , “the document.
According to the Journal du Dimanche, which unveiled the deal, including Free could recover some of the frequencies, antennas and of Bouygues Telecom stores.
None of the companies does not specify the amount of money at stake. But sources close to the dossier of statements to AFP, Patrick Drahi has put on the table 10 billion euros to buy Bouygues Telecom.
The French government has already expressed its opposition to the project, through the voice of Economy Minister Emmanuel Macron who said fear of negative consequences for “ employment, investment and the best service to consumers “.
Asked Monday morning on RFI radio, Finance Minister Michel Sapin also expressed reservations on this possible, calling to consider “ the general interest “.
– Concerns about debt –
“ Because if that’s all focus and drive up prices, I think no one would win “, said Mr Sapin.
“ These are very large transactions between major French companies (…) in areas that are absolutely fundamental for everyday life but also for the economic development of our country. So for defining the state is interested and must give its opinion “, he added.
Such an offer, if successful, chamboulera deeply the landscape of French telecoms and especially that of mobile telephony, which was increased from three to four operators in January 2012 with the sensational arrival of Free Mobile. The Competition Authority will have to decide on the case.
The French-Israeli businessman Patrick Drahi, head of a media empire and telecommunications in France, including publications including L’Express and Liberation, had already succeeded in March 2014 seize SFR after a long battle with Bouygues Telecom by acquiring the 13.36 billion for Vivendi euros.
The Minister of Finance has also been very reluctant on the financing of the operation, which could be achieved through a loan from BNP Paribas. “We must be careful not to found an empire on the sandy debt, he warned.
In its frenzy of acquisitions, Patrick Drahi has indeed accumulated debt more than 30 billion euros. Several union officials have already expressed their concerns about the viability of the operation and the risks of overlap between Numericable, SFR and Bouygues Telecom networks which could lead to job losses.
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