Deals
Drahi Makes Bid for Bouygues Telecom Said to Top $11 Billion
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Billionaire Patrick Drahi offered to buy Bouygues SA’s wireless carrier in a proposal said to be valued at about 10 billion euros ($11.4 billion), setting up another faceoff with Martin Bouygues in just over a year.
The bid for Bouygues Telecom was made by Numericable-SFR, the cable and mobile-phone unit of Drahi’s Altice SA holding company, Luxembourg-based Altice said Monday. Bouygues called the offer unsolicited and said no negotiations are under way. Its board will meet Tuesday to evaluate the proposal. Economy Minister Emmanuel Macron said the timing “isn’t right” for further consolidation in the French phone market.