Telecom Titans Target Altice's French Assets in Mega 17 Billion Euro Bid

Bouygues Telecom, Free-iliad Group, and Orange have proposed a non-binding offer to acquire most of Altice's French activities, valuing the deal at 17 billion euros. This major consolidation step in Europe's telecom sector excludes certain Altice assets and marks a significant industry shift.

Bouygues Telecom, Free-iliad Group, and Orange put forth on Tuesday a non-binding offer to purchase a substantial portion of Altice's operations in France, assigning the acquisition an enterprise value of 17 billion euros ($19.72 billion).

This prospective deal reflects ongoing consolidation in Europe's fragmented telecoms sector and stands as the year's second-largest transaction following Keurig Dr Pepper's acquisition of JDE Peet's.

If successful, the sale involving most of SFR's assets could reshape France's telecom industry, reducing the number of major mobile network operators from four to three. Negotiations suggest a complete proposal might arise by the first quarter of 2026, with full execution anticipated to extend over four years.

(With inputs from agencies.)