Bouygues boss meets Hollande to propose SFR buy terms; bidder looking at options - report (translated)
Martin Bouygues, the French entrepreneur, has met with French President Francois Hollande with a view to pitching Bouygues’ offer for mobile operator SFR. French weekly le Journal du Dimanche reported the development in an article including a comment from the mooted French bidder group that it was studying all options. The JDd said Bouygues and the president met on Thursday 27 February.
Attributing more detailed information to source close to Martin Bouygues, the item noted he is keen to offer a spoiler to the SFR/Numericable marriage currently under discussion. Bouygues is, according to the source, prepared to commit to maintaining employment within SFR, France’s number two mobile operator. In addition, the JDD noted Bouygues is prepared to trump the EUR 5bn thought to be on offer from rival bidder Numericable. Vivendi is the seller of SFR.
An unsourced portion article noted a Bouygues offer could come about by mid-March. A report last week suggested Bouygues Telecom had appointed Rothschild to assist in a potential counter-bid for SFR.
The JDD also posited that in the event of an SFR/Bouygues tie-up, the French conglomerate might be asked on competition grounds to sell its network to rival Free.
Source Journal du Dimanche