By Gianluca Lo Nostro and Leo Marchandon April 23 (Reuters) - The chief executive of Orange said on Thursday the French telecoms group had started discussions with authorities to get them ready for
Orange Initiates Regulatory Discussions for SFR Acquisition with Partners
Overview of Orange's Potential Joint Bid for SFR
By Gianluca Lo Nostro and Leo Marchandon
Regulatory Discussions and Antitrust Considerations
April 23 (Reuters) - The chief executive of Orange said on Thursday the French telecoms group had started discussions with authorities to get them ready for the potential joint bid made with Bouygues and Iliad for rival operator SFR.
Implications for the European Telecoms Sector
The potential deal, which would be one of the largest in the European telecoms sector in recent years, is set to test appetite for consolidation in the European Union, as it would reduce the number of mobile network operators in France to three from four.
Comments from Orange CEO Christel Heydemann
"We started to discuss with authorities to get them ready, because we also know that this antitrust process takes time, and we want to make sure we can help them get up to speed quickly," Orange CEO Christel Heydemann said during a webcast.
Key Details of the Potential SFR Acquisition
- Orange is considering some behavioural remedies, Heydemann said, pointing to a similar antitrust process in Britain, where regulators conditionally approved the Vodafone-Three merger in 2024
- The consortium is in exclusive talks with SFR owner Altice France until May 15
- Each company bidding for SFR would have to individually file with competition watchdogs
- No binding agreement has been signed yet
- Offer gives SFR enterprise value of 20.35 billion euros ($24 billion)
($1 = 0.8547 euros)
Reporting and Editorial Credits
(Reporting by Leo Marchandon and Gianluca Lo Nostro in Gdansk; Editing by Milla Nissi-Prussak)
