Bouygues Telecom aims to challenge Orange after acquiring SFR stake

Bouygues Telecom will take a 42% share of SFR in a €20.35 billion deal that will reduce France’s telecom landscape from four to three major operators. With the acquisition, Bouygues expects to become the second‑largest provider behind Orange, while retaining all of SFR’s business customers and many consumer accounts.

The merger must clear scrutiny by the French competition authority and the European Commission, a process that could last up to 18 months. Bouygues’s chief executive Olivier Roussat has assured regulators and customers that the consolidation will not be “at the expense of competition” and that prices should remain stable during the review period. The companies plan to use cost synergies to fund 5G and fiber rollout rather than raise tariffs.

If approved, the deal will affect roughly 25 million mobile and fixed‑line customers, reshaping market dynamics and potentially setting a new competitive benchmark for the remaining operators, including Free Mobile, which Bouygues cites as a “maverick” that keeps prices low.