For two years, Martin Bouygues has not changed its discourse. After the entry missed in the capital of Orange in 2016, no question of re-in any operation of merger in the telecommunications or destabilize Bouygues Telecom, in convalescence. This time is over. The boss of the group is persuaded by his banker Gregoire Chertok, a partner at the Rothschild bank, that SFR could represent an opportunity. Talks have been opened in the spring, especially with the CVC funds, to mount a bid.
In the case of approximation, the duo would control a third of the broadband market and 39 % of the mobile market
But things never really materialized that from mid-may, when Martin Bouygues met with Patrick Drahi, owner of Altice (the parent company of SFR), as revealed by The Canard enchaîné. The bankers of the parties, Rothschild for Bouygues and Lazard for SFR, have worked in parallel. The meeting between the two leaders has not resulted, Lazard sending, according to our information, an end of inadmissibility to the offer made by the officers of Bouygues.
How much does Martin Bouygues has he proposed ? Would he leave a place of Patrick Drahi in the new entity, as explained in The “Canard enchaîné”? Mystery. Analysts, themselves, value SFR 24 billion euros to 16 billion euros of debt, ” explains Stéphane Beyazian, an analyst at Raymond James. According to him, a merger between Bouygues Telecom and SFR would generate for the parties 2 billion of additional revenue, putting an end to the price war. The duo would control a third of the broadband market and 39 % of the mobile market.
With Bouygues, we can explain ” to have already studied regularly with the various possible evolutions of the telecoms market “, and it is admitted that” a contact that did not result took place with Altice “. On the side of SFR, it denies having received a…