M&A deals where this company is the target (sell-side)

{  "data": [    {      "id": "8300f126-fda0-4a28-8107-caf6ad877c28",      "deal_date": "2026-06-08",      "deal_type": "M&A",      "deal_subtype": "Strategic M&A",      "deal_synopsis": "Altice France signed a memorandum of understanding with a consortium comprising Bouygues Telecom, Free–iliad Group, and Orange for the acquisition of SFR assets, with the transaction based on a total enterprise value of EUR 20.35 billion and a potential earn-out of up to EUR 0.65 billion. Bouygues Telecom is allocated around 42% of the price, Free–iliad 31%, and Orange 27%, with signing of definitive documents expected in the second half of 2026 and closing targeted for the second half of 2027 after regulatory approvals.\nThe rationale is to create a stronger, more resilient French telecom market with greater investment capacity, infrastructure development, and long-term value for stakeholders. The transaction is expected to generate about EUR 1.0 billion per year in EBITDAaL–Capex synergies, with roughly 70% of annualized net synergies expected by 2032. Based on 2025 figures for the scope under consideration after adjustments, the combined assets generated EUR 8.0 billion of revenue and EUR 2.6 billion of EBITDAaL; Bouygues Telecom’s share of the transaction would represent about 52% of revenue and 42% of EBITDAaL, while the overall split across buyers would also be sensitive to customer-base changes before closing.\nSFR is a subsidiary of Altice France. In 2024, SFR reported revenues of EUR 10.0 billion. The proposed transaction also includes SFR Business, described as representing around EUR 1.2 billion in sales within the scope announced. The price includes standard closing-account adjustments, debt-related adjustments, and mechanisms tied to compliance with seller commitments on regulation and investment.",      "deal_valuation": 23440,      "deal_raised": null,      "deal_revenue": 9950,      "deal_ebitda": 3160,      "deal_multiples": {        "ev_revenue": 2.355778894472362,        "ev_ebitda": 7.417721518987342      },      "target": {        "id": "9e544d7f-c3a7-483b-b29d-e559f3b062dc",        "name": "SFR",        "short_name": "SFR",        "website": "http://www.sfr.fr",        "country": "FRA"      },      "buyers": [        {          "id": "34aa9760-ec71-4c11-8cb0-a7a2ba1d435e",          "name": "Bouygues Telecom",          "country": "FRA",          "website": "https://www.corporate.bouyguestelecom.fr",          "short_name": "Bouygues Telecom"        },        {          "id": "273848b9-3fa8-4ba5-9eef-54dcfda8435c",          "name": "Iliad",          "country": "FRA",          "website": "https://www.iliad.fr/",          "short_name": "Iliad"        },        {          "id": "c60998bf-1484-4a5d-91c9-1f29de8f05ad",          "name": "Orange",          "country": "FRA",          "website": "https://www.orange.com",          "short_name": "Orange"        }      ],      "lead_investors": [],      "created_at": "2026-06-09T12:22:02.961522+00:00",      "updated_at": "2026-06-09T12:22:55.646063+00:00",      "deleted": false    },    {      "id": "6a58a09d-a98a-4310-9f62-4543253d80e4",      "deal_date": "2017-06-20",      "deal_type": "M&A",      "deal_subtype": "Strategic M&A",      "deal_synopsis": "Telenet closed the acquisition of SFR Belux from Altice NV on June 20, 2017, for €400 million on a cash-free and debt-free basis. SFR Belux consisted of Coditel Brabant BVBA and Coditel Sarl, operating cable networks in greater Brussels, parts of Wallonia in Belgium, and Luxembourg, previously under Numericable branding before rebranding to SFR in late 2015 and early 2016.\nThe deal enabled Telenet to expand its cable footprint into these regions and position itself as a convergent telecom operator serving residential and business customers in Belgium. Financing included €210 million from revolving credit facilities and the balance from equity, with plans for €12 million in network modernization investments over 2017-2018 and projected annual run-rate synergies of €16 million by 2021.\nPost-acquisition impacts appeared in Telenet's financials, with SFR Belux contributing €14.8 million to Q4 2017 revenue and adding to customer bases including approximately 82,200 video subscribers and 48,100 broadband subscribers by year-end.",      "deal_valuation": 432,      "deal_raised": null,      "deal_revenue": 1255,      "deal_ebitda": 548,      "deal_multiples": {        "ev_revenue": 0.34422310756972113,        "ev_ebitda": 0.7883211678832117      },      "target": {        "id": "9e544d7f-c3a7-483b-b29d-e559f3b062dc",        "name": "SFR",        "short_name": "SFR",        "website": "http://www.sfr.fr",        "country": "FRA"      },      "buyers": [        {          "id": "ec9a64e4-6436-4ac4-beb5-c565542f2fef",          "name": "Telenet Holding",          "country": "BEL",          "website": "http://telenet.be",          "short_name": "Telenet Holding"        }      ],      "lead_investors": [],      "created_at": "2026-03-02T20:04:38.149249+00:00",      "updated_at": "2026-03-02T20:04:38.149249+00:00",      "deleted": false    },    {      "id": "a6220bfa-3717-4362-a58e-6a740ec00d1b",      "deal_date": "2014-04-07",      "deal_type": "M&A",      "deal_subtype": "Strategic M&A",      "deal_synopsis": "Numericable Group, controlled by Altice, acquired SFR, France's second-largest mobile and fixed telecom operator, from Vivendi in a deal announced in April 2014 and completed on November 27, 2014. The transaction combined Numericable's cable network expertise with SFR's mobile and broadband operations to create Numericable-SFR, a leading French fixed-mobile convergence player. The deal structure included €13.5 billion in cash at closing on a cash-free/debt-free basis, a 20% equity stake in the combined listed entity for Vivendi, and a potential €750 million earn-out if the combined group's EBITDA minus Capex reached €2 billion in a specified period.\nVivendi selected Numericable's revised offer over a competing bid from Bouygues, valuing SFR at over €17 billion for 100%, which represented a premium to sector averages with an implied 2014e EV/EBITDA multiple of 5.6x compared to 6.0x Telco EU average. The acquisition was financed through €8.4 billion in bonds, bank loans, and a capital increase, backed by a syndicate of international banks. SFR's tower assets were planned for transfer to a third party as part of the deal terms. This merger positioned Numericable-SFR as a stronger competitor to Orange and Free in the consolidating French telecom market.",      "deal_valuation": 18360,      "deal_raised": null,      "deal_revenue": 11016,      "deal_ebitda": 3279,      "deal_multiples": {        "ev_revenue": 1.6666666666666667,        "ev_ebitda": 5.5992680695333945      },      "target": {        "id": "9e544d7f-c3a7-483b-b29d-e559f3b062dc",        "name": "SFR",        "short_name": "SFR",        "website": "http://www.sfr.fr",        "country": "FRA"      },      "buyers": [        {          "id": "14e1819d-7f68-4044-852e-bfb0b32ae42b",          "name": "Numericable",          "country": "FRA",          "website": "http://numericable.fr",          "short_name": "Numericable"        }      ],      "lead_investors": [],      "created_at": "2026-03-02T20:03:51.909293+00:00",      "updated_at": "2026-03-02T20:03:51.909293+00:00",      "deleted": false    }  ],  "meta": {    "page": 1,    "limit": 3,    "returned": 3,    "total": 3,    "has_more": false  }}