Bouygues and Free argue the acquisition of SFR. Red no longer knows where to get.

SFR’s future remains uncertain ! The operator struggles to hold back his subscribers, losing both on the fixed and the mobile. This situation even led the unions to seize justice to suspend the restructuring, fearing dismissals. However, a takeover could save the group, but the negotiations remain complicated.

Free or Bouygue to buy SFR?

SFR could be redeemed, but by whom? If free is the favorite operator, Bouygues and other actors do not abandon. It should be remembered that they all have an interest in getting closer to the discussions. Free has been talking to Altice since June, and especially targets professional subscribers and also mobile and box customers.

Bouygues seeks to recover the antennas and mobile and box customers. Orange would have a more limited role. Some investment funds are interested in the fiber optic network. For the moment, no one can share it is fairly, and the file could be closed in October if no agreement is reached.

The situation is so tense that the big boss of SFR himself got hold of the dough. Patrick Drahi met at the end of August Bouygues, Free and Orange at the end of August to encourage them to make an offer, while the restructuring reduces debt from 24 to 15 billion euros. The operator awaits the final validation of his backup plan. For the moment, no sales process has been launched and no offer has been received.

Red offer crystallizes tensions

Red, the Low-Cost brand of SFRbrings together approximately 5 million customers and remains the only growing segment of the group, while SFR generally loses subscribers and sees its income fall.
It is this base of subscribers that attracts Free and Bouygues Telecom.

Xavier Niel, at the head of Free, mainly targets its customers, without resuming the brand itself, estimated at 4 billion euros by SFR. Bouygues Telecom, for its part, does not intend to leave itself and also seeks to recover part of these subscribers to strengthen its low-cost offer.

The second front, and the main point of tension in negotiations, concerns the mobile network shared between Bouygues and SFR, called “Crozon”. Bouygues is ready to buy half of this network, but his boss, Olivier Roussat, estimates that this would increase his operating costs by 300 million euros per year, or 1.5 billion between 2027 and 2032, the end date of the contract.

According to information from BFMTV, Bouygues asked Free compensation of 2 billion euros to acquire this network, an amount that he was ready to revise down late July, assures a negotiator.

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