SFR exclusive sale talk period extended

Talks among French operators regarding a consolidation through the sale of SFR to Orange, Bouygues Telecom and Free-Iliad were extended after its owner Altice France was satisfied with the progress to date.

The trio of suitors stated a period of exclusivity Altice France granted in April which was due to expire today (15 May) is now to last until 5 June.

Altice France is mulling a bid valuing SFR at €20.4 billion. The three would-be purchasers described discussions so far as “constructive”, though continued to emphasise there is no guarantee a deal would be struck.

Were they to succeed, the suitors hope to divvy out various elements of SFR according to specific requirements.

France is one of the last markets in western Europe not swept up in a wave of operator consolidation, with deals in recent years including Orange and Masmovil in Spain, Vodafone UK and Three UK, and Fastweb and Vodafone Italia.

Operators typically argue consolidation is key to providing the financial clout needed to invest in 5G networks and other infrastructure.