The long awaited SFR deal has been provisionally agreed, with the Consortium upping their offer from €17bn to €20.35bn. A big bump – at this stage its unclear what the justification is for the increase. The consortium have been granted exclusive negotiations until May 15. In this report we look at the offer, and what it means for Drahi, lenders, Orange, Bouygues and Iliad, and the wider sector too.
Deutsche Lufthansa AG: Veröffentlichung gemäß § 40 Abs. 1 WpHG mit dem Ziel der europaweiten Verbreitung Deutsche Lufthansa AG: Veröffentlichung gemäß § 40 Abs. 1 WpHG mit dem Ziel der europaweiten Verbreitung 17. Apr 2026 / 13:36 CET/CEST, übermittelt von GlobeNewswire. Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Stimmrechtsmitteilung 1. Angaben zum Emittenten Name Deutsche Lufthansa Aktiengesellschaft Straße und Hausnummer ...
Deutsche Lufthansa AG: Release according to Article 40 (1) of the WpHG (the German Securities Trading Act) with the objective of Europe-wide distribution Deutsche Lufthansa AG: Release according to Article 40 (1) of the WpHG (the German Securities Trading Act) with the objective of Europe-wide distribution 17. Apr 2026 / 13:36 CET/CEST, transmitted by GlobeNewswire. The issuer is solely responsible for the content of this announcement. Notification of Major Holdings 1. Details of issuer Name Deutsche L...
Bouygues Telecom, the Free–iliad Group and Orange enter exclusive negotiations with the Altice France group for the acquisition of SFR Press releaseParis, 17 April 2026 Bouygues Telecom, the Free–iliad Group and Orange enter exclusive negotiations with the Altice France group for the acquisition of SFR Following the due diligence phase initiated in 2026, Bouygues Telecom, the Free–iliad Group and Orange announce that they have submitted a new offer and are starting exclusive negotiations with the Altice France group with a view to acquiring SFR. This offer reflects a total enterprise val...
Bouygues Telecom, Free-Groupe iliad et Orange entrent en négociations exclusives avec le groupe Altice France pour l’acquisition de SFR Communiqué de presse Paris, le 17 avril 2026 Bouygues Telecom, Free-Groupe iliad et Orange entrent en négociations exclusives avec le groupe Altice France pour l’acquisition de SFR A la suite du process de due diligence initié en 2026, Bouygues Telecom, Free-Groupe iliad et Orange annoncent la remise d'une nouvelle offre et entrent en négociations exclusives avec le groupe Altice France en vue de l’acquisition de SFR. Cette offre porte sur un montant to...
Bouygues Telecom, the Free-iliad Group and Orange enter exclusive negotiations with the Altice France group for the acquisition of SFR Press releaseParis, 17 April 2026 Bouygues Telecom, the Free–iliad Group and Orange enter exclusive negotiations with the Altice France group for the acquisition of SFR Following the due diligence phase initiated in 2026, Bouygues Telecom, the Free–iliad Group and Orange announce that they have submitted a new offer and are starting exclusive negotiations with the Altice France group with a view to acquiring SFR. This offer reflects a total enterprise val...
Bouygues Telecom, Free-Groupe iliad et Orange entrent en négociations exclusives avec le groupe Altice France pour l’acquisition de SFR Communiqué de presse Paris, le 17 avril 2026 Bouygues Telecom, Free-Groupe iliad et Orange entrent en négociations exclusives avec le groupe Altice France pour l’acquisition de SFR A la suite du process de due diligence initié en 2026, Bouygues Telecom, Free-Groupe iliad et Orange annoncent la remise d'une nouvelle offre et entrent en négociations exclusives avec le groupe Altice France en vue de l’acquisition de SFR. Cette offre porte sur un montant to...
There have been more press articles on French M&A in the past few days, HERE and HERE. So far, the content tallies with feedback we received from our recent meeting with Bouygues management, HERE: no deal yet, but a deal is still more likely than not.
ALSTOM S.A: Alstom’s preliminary FY 2025/26 results: Record orders, Free Cash Flow within guidance, Adjusted EBIT at ~6%, Revised preliminary outlook for FY 2026/27 FY 2025/26 order intake and sales delivered as planned Record order intake1 of €27.6 billion, book-to-bill ratio1 of 1.4 and backlog of >€100 billionReported sales1 up 4%, equivalent to 7% on an organic basis Prolonged ramp-up and execution headwinds FY 2025/26 adjusted EBIT margin1 at ~6%, impacted by some rolling stock projectsFY 2025/26 Free Cash Flow1 of ~€330 million, despite contract working capital headwinds Preliminar...
ALSTOM S.A : Résultats préliminaires d’Alstom pour l’exercice fiscal 2025/26 : Commandes record, Cash-flow libre conforme aux prévisions, Marge d’exploitation ajustée ~6 %, Perspectives préliminaires révisées pour l’exercice 2026/27 Prises de commandes et ventes pour l’exercice fiscal 2025/26 conformes aux prévisions Prises de commandes1 record de 27,6 milliards d’euros, ratio « commandes sur chiffre d’affaires »1 de 1,4 et carnet de commandes supérieur à 100 milliards d’eurosChiffre d’affaires1 en hausse de 4 %, dont 7 % de croissance organique Montée en cadence plus longue que prévu et co...
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