Orange has been in talks with another France-based telco Bouygues Telecom for a possible merger with latest round of discussions held on Wednesday March 30, 2016.
In a brief statement released by Orange, the firm noted that the discussions were still inconclusive.
“The Board of Directors of Orange met on 30 March 2016 to discuss the talks regarding a possible consolidation with Bouygues Telecom. The Board acknowledged that the negotiations were not yet sufficiently advanced,” read the statement, adding that Orange’s Board of Directors will meet again by 3 April 2016 to examine the result of these discussions.
(TOP: Martin Bouygues, founder, Bouygues Telecom)
According to a report published by Reuters, Orange has been in talks since early January to buy Bouygues Telecom for 10 billion euros (8 billion pounds) in cash and shares.
Should the merger be concluded, it would reduce the number of French mobile operators to three from four and make Bouygues the second largest shareholder in Orange behind the French government.
Bouygues Telecom is a French mobile phone, internet service provider and IPTV company, part of the Bouygues group. The firm was founded in 1994 by Martin Bouygues.
In terms of marketshare, Bouygues Telecom currently has 14.7 million customers including 2.8 million fixed broadband customers. It also has a directly-owned fixed network that is already accessible to 16.1 million households in broadband and to 1.5 million households in the FTTH segment.