No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - European telecom operators Bouygues Telecom, Free-iliad Group and Orange have confirmed that they are in talks with Luxembourg-based peer Altice Group about buying a large part of the latter's French operations.
In a joint statement released on Thursday, the consortium said due diligence works started on a potential deal since early January, though no legal and financial terms have yet been agreed.
"There is no certainty that this process will result in any agreement which would anyway remain subject to the approval of the governance of the parties involved and to customary conditions," the companies said.
"A communication to the market will be made as and when appropriate depending upon the status of the project and in accordance with applicable regulatory requirements."
The announcement, which confirmed earlier press speculation, comes just three months after the consortium had a 17bn offer for most of Altice Group's SFR business rejected by owner Patrick Drahi.
The rejected approach valued the whole of Altice Group's French operations at 21bn, including debt. That offer excluded certain interests in Intelcia, UltraEdge, XP Fibre, and Altice Technical Services, along with Altice interests in French overseas territories.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.