logo
Share SHARE
FONT-SIZE Plus   Neg

Bloomberg: Iliad's Informal Bid For Bouygues Telecom Stumbles On Price

France's third-largest mobile carrier Iliad SA's (ILIAF) informal takeover bid for conglomerate Bouygues SA's (BOUYY) telecom unit has stumbled due to a difference of 3 billion euros, or $4 billion, over the price for the unit, Bloomberg reported Monday, citing people familiar with the matter.

According to the Bloomberg report, Iliad recently made an informal takeover offer for Bouygues Telecom, France's fourth-largest mobile carrier, between 4 billion and 5 billion euros, However, Bouygues SA is seeking about 7 billion to 8 billion euros for the unit, putting the talks at a standstill.

According to the Blomberg report, a combination between Iliad, owner of the Free brand, and France's fourth-largest mobile carrier Bouygues Telecom would likely face fewer antitrust obstacles than a combination between Bouygues and French market leader Orange SA (ORA). Bouygues, a family-controlled construction conglomerate, is also said to be in early talks with Orange about a combination.

Bouygues very recently lost a bidding war for French media and telecom giant Vivendi SA's (VIV.L,VIVEF.PK) telecom unit SFR.

SFR was sold to cable TV provider Numericable SA, affiliated to cable holding company Altice S.A, in a deal valued at 17 billion euros or $23 billion. Bouygues was expecting to merge Bouygues Telecom unit with SFR, the second-largest French operator.

Iliad's shares closed Monday's trading in Paris at 238.70 euros, up 2.40 euros or 1.02 percent on a volume of 60,698 shares. Bouygues shares closed trading at 34.32 euros, up 0.12 euros or 0.37 percent on a volume of 471,398 shares.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Online retail giant Amazon.com Inc. (AMZN) is reportedly in talks to buy luxury online fashion retailer Net-a-Porter. The news of acquisition was first reported by Women's Wear Daily, which said the deal would be completed for about 2 billion euros, indicating the biggest acquisition yet by Amazon.... Tim Cook, the CEO of tech giant Apple Inc., in an interview said he intends to give away all his wealth to charity. Cook, in an interview to Fortune, said he plans to donate all his wealth to philanthropic projects after paying for his 10-year old nephew's college education. According to Fortune,... Is it a 'personal life crisis' that led the Germanwings' co-pilot Andreas Lubitz to deliberately lowering the plane carrying 149 people to French Alps mountain? Police is investigating to find evidences to prove this suggestion.
comments powered by Disqus
Follow RTT