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Bouygues Telecom, Altice issue denials after Stephane Richard reportedly tells investors that talks are back on.
Bouygues Telecom has denied it has restarted merger talks with its rival French operators, after Orange CEO Stéphane Richard reportedly made remarks to the contrary.
According to a BFM Business report late last week, Richard told investors during a road show in London last week that consolidation talks have resumed, and that Orange is willing to play the role of facilitator by acquiring assets divested as part of a merger between rival players.
"The Bouygues group categorically denies having restarted discussions with other telecoms operators with a view to consolidating the French market," said Bouygues, in a statement on Friday.
The BFM Business report also included a denial from Numericable SFR parent Altice.
Rumours of consolidation in France have ebbed and flowed ever since Iliad’s Free Mobile disrupted the market with the launch of low-cost tariffs in 2012. It has since carved out a market share of 17.4%, according to Iliad’s most recent financial report.
France most recently came close to consolidating when Orange and Bouygues Telecom entered merger talks at the beginning of this year. Reports at the time suggested that the deal would value Bouygues Telecom at €10 billion, with Bouygues receiving a 15% stake in Orange worth €8 billion plus €2 billion in cash.
However, no deal emerged, and the telcos ended their negotiations in early April.
