“No Certainty This Will Lead to a Deal”
In a joint communiqué late Tuesday, the trio cautioned that there was “no certainty” their proposal would culminate in an agreement, emphasizing that a formal offer would depend on due diligence, Altice’s cooperation, and regulatory approval. Any eventual deal would also need clearance from employee representative bodies in France and the European Commission.
The European Union, long cautious about mergers that could limit competition, has been under renewed pressure to ease its stance. A 2024 report by former ECB President Mario Draghi urged Brussels to treat the EU as a single telecoms market, allowing more cross-border consolidation. Yet, the Commission has resisted significant relaxation, keeping merger ambitions like this one in regulatory limbo.
A Tense Market and an Unmoved Giant
Altice France — the country’s second-largest telecom operator after Orange — has faced mounting scrutiny over its debt and business restructuring. Industry analysts viewed the €17 billion offer as a potential lifeline amid intensifying competition and infrastructure costs.
Instead, Altice’s immediate rejection signals confidence in its strategic independence, even as rivals move to pool resources in the face of escalating investment demands for next-generation networks.
Whether the rejected suitors regroup for a higher bid or regulators shift their position on telecom consolidation, one thing is clear: Altice’s bold refusal has reignited Europe’s battle over the future of connectivity.
