- Following today's meeting, the board of Bouygues Telecom (OTCPK:BOUYF) has unanimously spurned an unsolicited €10B buyout bid from Altice (OTCPK:ATCEY) that would have reduced the French market to three major carriers.
- In a press release (French; translated), Bouygues says it thinks it's uniquely positioned to benefit from a new era of telecom growth and can return to EBITDA margins of 25% by 2017.
- The board added that it didn't think the deal would pass regulatory muster and worried about the result on jobs and any social risks incurred in the consolidation.
- On the move again in U.S. trade: France's Orange SA (NYSE:ORAN) down 3.7%.
- Previously: Altice using its own bankers on €10B Bouygues pursuit (Jun. 23 2015)
- Previously: French telecoms spike on Altice-Bouygues deal talk (Jun. 22 2015)
- Previously: Altice confirms Bouygues Telecom bid (Jun. 22 2015)
Bouygues Telecom rejects Altice's €10B buyout bid
Recommended For You
More Trending News
About BOUYF Stock
Related Stocks
| Symbol | Last Price | % Chg |
|---|---|---|
| BOUYF | - | - |
| Bouygues SA | ||