Orangewatch

French trio increases bid for SFR, starts exclusive talks

2026-04-17T11:56:00

orw-sfr new bid

Source: Altice

New offer gives SFR a total enterprise value of €20bn, with Bouygues still in the driving seat, Orange and Iliad onboard.

This article includes:

  • Themes: Altice France restructuring; Consolidation in French telecoms; Enterprise value valuation; Exclusive negotiations; Market competition; Regulatory scrutiny; SFR acquisition; Three‑way consortium deal.
  • People: Patrick Drahi; Russell Waller.
  • Geographic: France; French overseas departments and regions.
  • Organisations: Altice France; Autorité de la concurrence; Bloomberg; Bouygues Telecom; Brookfield Asset Management; DigitalBridge; Iliad Group (Free); Intelcia; Morgan Stanley Infrastructure Partners; New Street Research; Orange; Reuters; UltraEdge; Vauban Infrastructure Partners; XpFibre.

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