Concerns Mount Over Bouygues, Orange, and Free's €17 Billion Bid for SFR Amid Job Loss Fears

On October 14, a joint €17 billion acquisition offer for SFR was announced by French telecom operators Bouygues, Orange, and Free. However, Altice France, SFR's parent company, swiftly rejected the offer. Arthur Dreyfus, Altice France's head, conveyed this dismissal in a brief internal email on October 15, emphasizing the immediate refusal of the proposal. The rejection may be a strategic move, as Altice owner Patrick Drahi has hinted at wanting to divest from SFR for over two years.

Union voices quickly responded, with Abdelkader Choukrane, central union delegate of Unsa at SFR, condemning the bid as the "worst solution." He warned of "monstrous social damage," citing fears of massive job cuts should the acquisition proceed. Representing the majority union, Choukrane stressed that the rejection signals only the start of complex negotiations regarding SFR's future.

Altice's rejection juxtaposed with Bouygues and partners' aggressive bid underscores the turbulence engulfing the French telecom industry. The potential restructuring implied by the deal has sparked serious concerns from labor representatives about workforce stability and social impact at SFR.