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Altice France rejects $18B takeover offer for SFR
Altice France rejects $18 billion takeover bid from Bouygues, Orange, and Free-Iliad for SFR, saying undervalue.
Headline
Altice France rejects $18 billion takeover bid from Bouygues, Orange, and Free-Iliad for SFR, saying undervalue.
Context
Altice France , owned by Patrick Drahi, has turned down a joint takeover proposal from Bouygues Telecom, Orange, and Free-Iliad valued at about $18 billion. The consortium offered to buy and divide most of SFR, Altice’s main telecom unit. In a message sent to employees, Arthur Dreyfuss, chief executive of Altice France, said the offer was “immediately rejected.” SFR confirmed the decision and said the company’s management viewed the valuation as far below its expectations.
Evidence
Pending intelligence enrichment.
Analysis
The proposal would have broken SFR into several parts. Bouygues would take about 43 percent, Free-Iliad around 30 percent, and Orange roughly 27 percent of the assets. Some business units such as Intelcia, UltraEdge, XP Fibre, Altice Technical Services, and overseas holdings were not included in the offer . After Altice rejected the bid, the three companies issued a joint statement saying they believed the proposal remained valid and expressed willingness to continue discussions. They said the plan aimed to create a stronger and more efficient telecom sector in France. Also Read: auDA: Administrator of Australia’s .au Domain Also Read: 1-TO-ALL: Thailand telecom and solutions distributor The rejection shows Altice believes SFR is worth more than $18 billion, even after the company’s heavy debt load. The decision also signals that Drahi wants to keep control rather than sell under market pressure.
Key Points
- Altice dismissed the non-binding bid, calling it too low and incomplete.
- The offer, if accepted, would have reshaped France’s telecom market by consolidating major players.
Actions
Pending intelligence enrichment.
