Orange signs an agreement to acquire SFR

The consortium comprising Bouygues Telecom, Free-Groupe iliad, and Orange has signed a memorandum of understanding with Altice France to acquire SFR. This major transaction in Europe aims to generate value for customers, employees, and investors while supporting the development of French infrastructure.

The deal, valued at €20.35 billion, involves a share split between Bouygues Telecom (42%), Free-Groupe iliad (31%), and Orange (27%). The assets will be divided among the three operators, with each party strengthening its customer services and investment capacity.

Respect for social concerns and job preservation are central to the project. Social dialogue with employee representatives is planned. The transaction is subject to approval by the competition authorities, with final signing expected in the second half of 2026.