Bouygues, Free, and Orange propose joint takeover of SFR

A major restructuring of the French telecommunications market is underway as Bouygues, Free, and Orange have submitted a joint offer to acquire SFR in a proposed industrial carve-up. The plan involves dividing SFR’s B2C, B2B, and infrastructure activities among the three competitors.

According to reports, the joint offer is valued at approximately €17 billion, while Altice France’s parent company has claimed a valuation of around €23 billion. The proposed deal would see assets and subscriber bases distributed among the bidders, with the French Competition Authority expected to closely monitor the transaction to ensure market competition and service quality.

The acquisition also carries significant implications for employment. While all jobs are reportedly to be preserved initially, a long-term plan titled ‘Renaissance’ suggests that by 2029, only a fraction of SFR’s approximately 8,000 employees will remain. Under the current proposal, Bouygues would take the largest share with roughly 2,300 employees, Orange would take between 250 and 300, and Free would take approximately 54. The French government has indicated that the fate of these employees currently falls outside its direct scope of intervention.