Drahi Rejects €17 Billion Bouygues-Led Bid for France’s SFR (3)

Billionaire Patrick Drahi’stelecom company Altice France rejected a €17 billion ($19.7 billion) bid from a trio of French phone carriers to take over and break up struggling operator SFR in a deal that would eliminate a major player from the market.

The company “immediately rejected” the offer from a consortium comprised of Bouygues Telecom, Iliad SA and Orange SA, Altice France head Arthur Dreyfusssaid in an email to staff on Wednesday that was seen by Bloomberg News. A representative for SFR confirmed it rejected the bid without elaborating. The AFP reported on the email earlier.

The ...