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France: ‘Non, merci’ Bouygues Telecom rejects Altice’s €10 billion buyout bid

 |  June 23, 2015

The board of Bouygues unanimously rejected an offer for its telecom unit from European telecom group Altice that sources put at 10 billion euros, citing execution risks and confidence in its own growth prospects.

The board believes Bouygues Telecom is well placed to benefit from a new period of growth in the telecoms market, underpinned by digital usage, Bouygues said in a statement on Tuesday.

“In addition, the board considers that the offer presents a significant execution risk, which should not be borne by Bouygues, particularly in terms of competition law in both thefixed and mobile markets,” Bouygues said.

Full content: The Financial Times

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