LONDON (ShareCast) - Luxembourg-based telecom giant Altice announced on Monday it had made an offer to acquire French telecom rival Bouygues for €10bn through its subsidiary Numericable-SFR.
Although no further details were disclosed, if formalised, the deal would give Patrick Drahi, Altice's founder, more power in the French telecom landscape.

In addition, the country's largest cellphone company Orange would be ousted and the main mobile providers reduced from four to three.

Nevertheless, the French economy minister Emmanuel Macron pointed out that the deal could face opposition, commenting it was not the right time for consolidation in France's telecom sector, arguing that the industry should focus on investment.

"The consequences of consolidation are negative in these respects, as several recent cases in Europe have proven," Macron said.

Altice agreed to buy 70% of US regional cable company Suddenlink Communications from existing shareholders BC Partners and Canada Pension Plan Investment on 19 May, in a deal valued at $9.1bn.

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