French conglomerate Bouygues SA has rejected a €10 billion offer for its telecom unit from Altice SA,
the
Wall Street Journal
reported.
The Bouygues board vote was unanimous, the article said.
Bouygues said it decided not to accept the offer because it sees growth potential in the French market and because of the risk that government regulators would reject the merger, the
Journal
report said.
“For [chairman and CEO Martin] Bouygues, the heir to the founder of the conglomerate, the telecom business has almost sentimental value, people close to him have said,” the
Journal
report noted. (Source:
Wall Street Journal
, June 24, 2015.)
-
1271 reads