A PYMNTS Company

France: Orange can’t keep Bouygues buyout plans under wraps for long

 |  June 5, 2014

Wireless giant Orange has reportedly hired banks to advise on its plans to acquire Bouygues, unnamed sources said.

Reports emerged weeks ago that the French company could be planning to make an offer for its competitor. Experts suggest the acquisition could reach a value of more than $8 billion.

While reports say the companies have been in discussions about a deal for as long as six weeks, Orange has remained largely silent on the topic, though has suggested that further consolidation in France’s telco industry would be for the benefit of consumers.

Earlier this year Bouygues was in a bidding war with cable giant Numericable to acquire wireless firm SFR, a battle Bouygues ultimately lost. Since, some experts suggested Bouygues could pursue an acquisition of the fourth-place telco Free.

Full content: Total Telecom

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.