Business · Companies · 12 hrs ago
Orange chief says SFR deal could strengthen Europe’s telecoms sector
Orange CEO Christel Heydemann backs a proposed €21 billion SFR purchase by Orange, Bouygues Telecom and Iliad, the company behind Free.
The deal would reduce France’s mobile market from four major operators to three, but France’s competition authority must approve it.
Heydemann says Europe’s telecoms market is more fragmented than those in the United States, China and India.
She argues that telecoms companies need sufficient scale to invest in networks and negotiate with large technology firms.
Telecom networks support industry and the wider economy, making investment in them important beyond the phone market.
Some people fear the deal could lead to higher prices, but Heydemann points to Orange’s 2024 merger in Spain, where prices later fell by 10%, according to her.
The French authority will now assess the proposed deal, including its possible effects on prices.
Orange chief executive Christel Heydemann said a proposed joint purchase of SFR could help telecoms companies achieve the scale needed to compete and invest.
The €21 billion deal involves Orange, Bouygues Telecom and Iliad, which operates Free.
The proposed transaction would reduce France’s mobile operators from four to three and still requires approval from the French competition authority.
Heydemann said telecoms markets in Europe are more fragmented than those in the United States, China and India.
She said concerns about higher prices were legitimate, but cited a 10% price decline after Orange’s 2024 merger with MasMovil in Spain.
- Who
- Orange chief executive Christel Heydemann discussed the deal. The buyers are Orange, Bouygues Telecom and Iliad (Free).
- What
- The three companies have proposed a €21 billion joint purchase of SFR.
- When
- The article was published on November 4, 2026. The deal still awaits competition authority approval.
- Where
- France.
- Why
- Heydemann said telecoms companies need critical scale to compete with large digital firms and fund essential infrastructure.
This story does not have two clearly opposing sides.
Orange completed its merger with MasMovil in Spain.
Le Monde published Heydemann’s comments on the proposed SFR deal, which was still awaiting competition authority approval.
- Proposed deal value
- €21 billion
- Consortium
- Orange, Bouygues Telecom and Iliad (Free)
- Market change
- Four operators to three in France
- Approval status
- French competition authority review still required
- Spain precedent
- Orange merged with MasMovil in 2024; Heydemann said prices later fell by 10%.
What people are saying
The subject of consolidation and moving from four to three players is inevitable in the telecoms industry.
This is a completely legitimate concern, and the competition authority will examine the case with all the required rigor.
Two and a half to three years later, prices had in reality fallen by 10%.