The board of directors at French telco has unanimously rejected a bid for the company by Patrick Drahi’s Altice. It comes against a background of opposition from the governing socialist party.
Were the deal to go ahead the combined company would overtake Orange as France’s leading telecoms provider.
“The Board believes that Bouygues Telecom is particularly well positioned to take advantage of this growth, considering that it has a strong and long-term competitive edge afforded by its portfolio of frequencies and its 4G network, which is recognised as being one of the best in the market. The operator, having become the fixed market’s mover, is also benefiting from its breakthrough in fixed broadband and the successful launch of its Bbox Miami Android TV box,” the board said in a statement.
It also pointed to a significant “execution risk” on the deal as well as the forthcoming launch of 700MHz frequencies in France.