Bouygues bites back in battle for SFR

Olivier Holmey

March 20, 2014 11:00 pm

SFR — Two logos of French mobile operators, SFR, and Bouygues, are displayed above the entrance of a telephone store in Aix les Bains, southern France, Thursday, March 6, 2014. French conglomerate Bouygues is offering euro10.5 billion ($14.4 billion) for control of mobile operator SFR telecommunications, entering a bidding war for the Vivendi unit. Bouygues said Thursday its offer to combine SFR with Bouygues Telecom would create a new number one mobile operator in France, leapfrogging current market leader Orange. (AP Photo/Lionel Cironneau) | Lionel Cironneau/AP

One of Europe’s key leveraged finance transactions this year could be in jeopardy after France’s Bouygues topped its sub-investment grade rival’s bid for the mobile phone operator SFR by as much as €1.4bn, writes Olivier Holmey.

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Olivier Holmey