French telecoms groups to test EU merger rules with $23.5 billion SFR deal

PARIS: French telecoms groups Bouygues, Orange and Iliad-owned Free face a complex antitrust review of their planned $23.5 billion takeover of SFR, executives said on Monday, in what will be a test of ‌regulators’ willingness to support consolidation ⁠in ⁠the sector.

The trio of bidders said on Saturday they had agreed to buy Altice France’s SFR for €20.35 billion ($23.45 billion), including debt, in what would be one of the biggest European telecoms deals in recent years if approved.