Bouygues-Led Group Makes €17 Billion Bid for Drahi’s SFR (3)

A consortium of French telecom carriers — Bouygues Telecom, Iliad SA and Orange SA — made a €17 billion ($19.7 billion) offer to buy their rival SFR from billionaire Patrick Drahi’s Altice France.

The deal will be split among the three, with Bouygues acquiring about 43% of the assets, Iliad 30% and Orange 27%, the companies said in a statement late Tuesday. The offer excludes some minor Altice properties, including stakes in Intelcia, UltraEdge and XP Fibre and the Altice group’s activities in French overseas departments and regions, making the implied enterprise value for the whole of ...