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| Bouygues Telecom faces €10bn Numericable-SFR bid | Bouygues Telecom faces €10bn Numericable-SFR bid |
| (35 minutes later) | |
| French telecoms giant Numericable-SFR has made a €10bn ($11.4bn; £7.2bn) offer for rival Bouygues Telecom. | French telecoms giant Numericable-SFR has made a €10bn ($11.4bn; £7.2bn) offer for rival Bouygues Telecom. |
| Shares in Bouygues jumped more than 13% in early trading in Paris after the bid was announced. | |
| A deal between the two would create France's largest mobile phone operator. | A deal between the two would create France's largest mobile phone operator. |
| However, the government has already expressed concerns, with Economy Minister Emmanuel Macron saying further consolidation in the sector was "currently undesirable". | However, the government has already expressed concerns, with Economy Minister Emmanuel Macron saying further consolidation in the sector was "currently undesirable". |
| "Now is not the time for opportunistic tie-ups which may be of interest to some people but which are not in the public interest," he added. | "Now is not the time for opportunistic tie-ups which may be of interest to some people but which are not in the public interest," he added. |
| "Jobs, investment and better customer service are the priorities." | "Jobs, investment and better customer service are the priorities." |
| Last year, Numericable parent Altice, owned by billionaire Patrick Drahi, outbid Bouygues to acquire rival SFR. | |
| The board of Bouygues will meet on Tuesday to discuss the offer, reports suggested. | The board of Bouygues will meet on Tuesday to discuss the offer, reports suggested. |