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France: Orange expects Bouygues deal within weeks

By  |  February 22, 2016
France: Orange expects Bouygues deal within weeks

Orange SA’s talks to acquire Bouygues Telecom in France have been complicated by the number of parties involved but should be completed within weeks, according to a top Orange executive.

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    “We don’t want a deal in the air forever, it isn’t good for anyone,” Orange Deputy Chief Executive Officer Gervais Pellissier told Bloomberg Television on Monday in Barcelona, where he was attending Mobile World Congress. “Within a few weeks, we should be good with this.”

    Orange, France’s former phone monopoly, is seeking to buy Bouygues Telecom in a transaction that could be valued at as much as 10 billion euros ($11 billion). The deal, which would reduce the number carriers in the country to three from four, is being scrutinized by regulators who are concerned with competition and the impact on consumers. Some of the discussions involve rivals Iliad SA and Numericable-SFR SAS who would purchase some assets of the combined company to address antitrust concerns.

    “An argument between four people is always more difficult than between two people,” Pellissier said. “We want a deal that’s socially acceptable, and a deal that’s acceptable to antitrust authorities.”

    Full Content: Bloomberg

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