Bouygues Telecom, the Free-iliad Group and Orange (ORAN,ORA.PA) have submitted an offer and are starting negotiations with the Altice France group with a view to acquiring SFR. The offer reflects a total enterprise value of 20.35 billion euros for the Altice France assets under consideration. The split of price and value between buyers would be around 42% for Bouygues Telecom, 31% for the Free-iliad Group and 27% for Orange. Altice France has granted an exclusivity period to the Consortium until 15 May 2026 in order to finalize the terms.
The offer covers the acquisition of the majority of assets operated by Altice France-SFR, excluding shareholdings in ACS/Intelcia, XP Fibre, Ultraedge and Altice Technical Services, as well as the Altice France group's operations in the French overseas departments and regions. The B2B business and customers would be taken over by Bouygues Telecom. The B2C business and customers would be shared between Bouygues Telecom, the Free-iliad Group and Orange.
At last close, Orange shares were trading at 18.10 euros, up 1.57%.
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