Iliad’s Bid for Bouygues Telecom Said to Stumble on Price

A 3 billion-euro ($4 billion) price gap is standing in the way of a possible merger of France’s third- and fourth-largest mobile carriers.

Iliad SA made an informal offer of between 4 billion and 5 billion euros in recent weeks to buy Bouygues Telecom, people familiar with the matter said. Bouygues Telecom’s owner, Bouygues SA, is seeking about 7 billion euros to 8 billion euros for the division, leaving the discussions at a standstill, they said. The people asked not to be identified because the discussions are confidential.