Bouygues Telecom, together with Free-Groupe iliad and Orange, initiated due diligence discussions in early January 2026 with Altice Group for a potential acquisition of a large portion of Altice’s French telecom operations. The process follows Altice’s rejection in October of a joint nonbinding offer valued at $19.87 billion. No binding financial or legal terms have been agreed, and any transaction would require approval from each company’s governance bodies and clearance under customary regulatory conditions.

In 2024 Bouygues Telecom generated €7.8 billion in revenue, employed 11 200 staff and operated 510 retail outlets across France. The operator served 27 million mobile and 5.3 million fixed-broadband customers at September 2025, with its networks covering 99% of the population on 4G and 85% on 5G. Its enterprise division counts over 104 000 business clients, including 70% of CAC 40 firms, underpinning its capacity to integrate additional assets from Altice.

As a subsidiary of Bouygues SA, Bouygues Telecom’s entry into this consortium signals a broader bid to strengthen the group’s footprint in convergent telecom and media. Parent-level investors should monitor governance milestones, potential equity or debt financing needs and regulatory approvals. An upstream acquisition could boost Bouygues SA’s consolidated revenues above the €38 billion recorded in 2024 and reinforce its strategic plan to expand digital services and infrastructure under its Sustainable Growth objectives.