Breaking News
FONT-SIZE Plus   Neg
Share SHARE

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.

Register
To receive FREE breaking news email alerts for Bouygues SA and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Beverages giant Coca-Cola Co. reported Tuesday a profit for the third quarter that decreased 14 percent from last year, despite higher worldwide volumes, reflecting a revenue drop. Adjusted earnings per share matched analysts' expectations, even as quarterly revenues missed their estimates. Following the announcement, the company's shares are trading more than five percent lower in early deals. Apple Inc. said Monday that its fourth quarter profit rose 13% from last year, driven by strong sales of its iPhones and Mac computers. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly sales. At the same time, the company gave an upbeat revenue forecast for the current quarter, which includes the all important holiday season. Programmable chipmaker Xilinx Inc. (XLNX) said Thursday after the markets closed that its second quarter profit rose 21% from last year, helped by higher revenue and better cost control. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly revenue....
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.