Bouygues Telecom, Free-iliad, Orange Offer to Buy Most Altice French Assets for About $20 Billion

By Katherine Hamilton

Bouygues Telecom, Free-iliad Group and Orange have submitted a joint non-binding offer to acquire a large part of Altice's telecommunications business in France.

The offer values the assets at 17 billion euros, or about $19.7 billion, the companies said Tuesday. It also implies a value of 21 billion euros for the whole of Altice France.

The three companies are looking to buy most of the assets of Altice's French telecommunications company SFR, but the offer doesn't include stakes in Intelcia, UltraEdge, XP Fibre or Altice Technical Services.

In their proposed deal, the French digital communications company Bouygues Telecom would take responsibility for 43% of the price and value. Free-iliad, a European broadband operator, would take responsibility for 30% and the telecom company Orange would take 27%.

Bouygues and Free-iliad would oversee Altice's business-to-business company, while all three companies would share the business-to-consumer company. Other assets and resources, such as infrastructure and frequencies, would be shared among all three companies. Bouygues would take SFR's mobile network in less densely populated areas, the companies said.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

October 14, 2025 15:27 ET (19:27 GMT)