Altice France, owner of SFR, entered exclusive negotiations on April 17, 2026 with Bouygues Telecom, Iliad (Free), and Orange to sell SFR for 20.35 billion euros, potentially reducing the French telecom market from four to three operators.

The exclusivity period runs through May 15, 2026, during which terms and documentation of the transaction are to be finalized.

The consortium will engage in exclusive negotiations with Altice France to complete the deal by the May deadline.

The article does not provide additional details on regulatory approvals or potential competition concerns.

The report notes ongoing developments and updates regarding the potential sale and related asset divestitures.

SFR’s financial challenges and debt are highlighted to explain the strategic rationale for both bidders and the seller.

Orange shares were trading around €18.10 at the time, reflecting market activity tied to the news.

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Any sale would require clearance from competition authorities, and there is no certainty the deal will be completed.

Approval from competition authorities is required, and the outcome remains uncertain.

There is no guarantee the transaction will be realized without regulatory clearance.

Bidders argue the deal would boost investments in high-speed networks, cybersecurity, innovation, and technologies like AI, while preserving strategic infrastructure control and a competitive consumer ecosystem.