France 3 Telecom Companies ($24 Billion Bouygues Telecom, Free–iliad Group & $55 Billion Orange) in Exclusive Talks to Buy France Telecom Company SFR at $24 Billion (€20.35 Billion) Valuation from Altice France, SFR Founded in 1987 by Compagnie Générale des Eaux (Now Veolia)
19th April 2026 | Hong Kong
France 3 telecom companies ($24 billion Bouygues Telecom, Free–iliad Group & $55 billion Orange) are in exclusive talks to buy France telecom company SFR at $24 billion (€20.35 billion) valuation from Altice France. SFR was founded in 1987 by Compagnie Générale des Eaux (Now Veolia). SFR – SFR is the second-largest telecom operator in France, serving over 25 million retail customers, businesses, local authorities and operators. As the oldest brand in the French telecom market and with a network of over 40 million fiber connections, SFR was the first operator in France to launch 3G, then 4G and now 5G. Today, it covers 99.9% of the population with 4G and 86% with 5G. SFR is also present across the entire country through its network of stores. In 2024, SFR achieved revenues of 10 billion euros. SFR is a subsidiary of Altice France. Bouygues Telecom – A subsidiary of the Bouygues group, Bouygues Telecom is a global French telecommunications and digital services operator. In 2025, the company achieved a turnover of 8.1 billion euros, employs 10,700 people, and has 501 stores in France. Founded in 1994, Bouygues Telecom is committed to providing its individual customers, businesses, and public administrations with secure, innovative, and high-quality Fixed and Mobile communication services, as well as very high-speed internet services, by constantly developing its network and user experience. Free–iliad Group – Created in the early 1990s, the iliad Group is the inventor of the world’s first triple-play box and is now a major European telecoms player, standing out for its innovative, straightforward and attractive offerings. The Group is the parent of Free in France, iliad in Italy and Play in Poland, has over 17,700 employees serving 52 million subscribers, and generated €10.3 billion in revenue in 2025. In France, the Group is an integrated Ultra-Fast Broadband Fiber and Mobile operator and had 23.3 million subscribers at end- 2025. In Italy, where it launched its business in 2018 under the iliad brand, it is the country’s fourth-largest Mobile operator and at end-2025 had over 13.0 million subscribers. In Poland, the Group is an integrated convergent operator, and at end-2025 had 15.6 million subscribers. The iliad Group is in 2025 the Europe’s fifth-largest operator by number of retail Mobile subscribers (excluding M2M) and the fifth-largest Fixed Broadband operator. Orange – Orange is one of the world’s leading telecommunications operators. The Group aims to be the trusted partner for everyday digital life by providing individuals, businesses and communities with reliable connectivity and innovative services. As of the end of 2025, Orange connects 340 million customers (including MasOrange) across 26 countries and generated 40.4 billion euros in revenues. As a trusted player, Orange leverages the excellence of its very high-speed broadband networks to deploy digital infrastructure in Europe, Africa and the Middle East. The Group is a European leader in fiber, with 100 million connectable households, and convergent offers. In France, Orange connects 34 million customers and was ranked No. 1 by the regulator Arcep for the quality of its mobile network for the 15th consecutive year. In Africa and the Middle East, the Group’s growth engine, Orange serves nearly 180 million customers and promotes digital and financial inclusion through its connected solutions. Under the Orange Business brand, the Group supports companies in transforming their networks as well as in AI, trusted cloud and cybersecurity. Orange is also a major player in the wholesale market, where it has a leading global telecom infrastructure and significant capabilities for deploying and operating submarine cables. A committed innovator, Orange relies on 700 researchers and holds a portfolio of 11,000 patents.
“ France 3 Telecom Companies ($24 Billion Bouygues Telecom, Free–iliad Group & $55 Billion Orange) in Exclusive Talks to Buy France Telecom Company SFR at $24 Billion (€20.35 Billion) Valuation from Altice France, SFR Founded in 1987 by Compagnie Générale des Eaux (Now Veolia) “
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France 3 Telecom Companies ($24 Billion Bouygues Telecom, Free–iliad Group & $55 Billion Orange) in Exclusive Talks to Buy France Telecom Company SFR at $24 Billion (€20.35 Billion) Valuation from Altice France, SFR Founded in 1987 by Compagnie Générale des Eaux (Now Veolia)
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