Arab Today, arab today frances bouygues telecom rejects rival altice buyout offer
Last Updated : GMT 08:30:39
Arab Today, arab today
Arab Today, arab today

France's Bouygues Telecom rejects rival Altice buyout offer

Arab Today, arab today

Arab Today, arab today France's Bouygues Telecom rejects rival Altice buyout offer

The board of French telecoms group Bouygues
Paris - AFP

The board of French telecoms group Bouygues on Tuesday unanimously rejected the buyout offer made the previous day by rival group Altice, Bouygues said.

"The board, following thorough examination, unanimously decided not to pursue the unsolicited offer by the Altice group," Bouygues said in a statement, citing "significant execution risks" related to competition laws in seeking to merge two large rivals.

The decision comes after Monday's purchase offer by Altice for a reported 10 billion euros ($11.3 billion). The bid sought to combine Bouygues' mobile, internet, and fixed phone businesses with those of Altice affiliate Numericable-SFR, and propel the merged group into France's top spot ahead of leader Orange.

The move met the opposition of France's leftist government, which voiced concerns about employment threats and higher consumer prices should the nation's sector consolidate from four to three players, as has happened in many other European markets.
In addition to citing competition concerns in rejecting the Altice offer, Bouygues also said its "strong and lasting competitive advantage" derived from its range of mobile frequencies and 4G network left it capable of expanding its business on its own.

The rejection was a setback for Altice's acquisition-hungry owner, Franco-Israeli tycoon Patrick Drahi, who has undertaken a spree of impressive, debt-financed telecom and media acquisitions in Europe and the US since 2014, when he purchased SFR and later merged it with cable operator Numericable.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today frances bouygues telecom rejects rival altice buyout offer Arab Today, arab today frances bouygues telecom rejects rival altice buyout offer

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday