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Orange Extending Bouygues Telecom Takeover Talks

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France's Orange and Bouygues Group are extending their ongoing talks which could see Orange buying the local mobile network operator, Bouygues Telecom.

Citing sources familiar with the talks, the Reuters news agency reported that neither company would comment ahead of a formal station due later today.

Orange has been in talks that could lead to the USD11.3 billion takover of Bouygues Telecom. in a move which is likely to be a regulatory hurdle as it reduces the market to three competing companies.

Many important issues remain to be discussed, especially regarding governance" one source close to the matter said, adding that Bouygues' board talked about staying independent as one potential alternative to the acquisition by Orange.

A shares based deal would also put the family controlled Bouygues Group as the second largest shareholder in Orange, after the French government.

Last year, Martin Bouygues, the group's CEO reportedly rebuffed an offer from rival French telco, Numericable-SFR after holding out for at least EUR 11 billion.

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Tags: orange  bouygues telecom  France