Merger talks between Orange (ORAN -1.9%) rivals Iliad and Bouygues are "at a standstill" due to a massive gap in Bouygues' perceived value, Bloomberg reports. Whereas Iliad is offering €4B-€5B, Bouygues wants €7B-€8B.
Orange was recently reported to have hired banks to weigh a Bouygues bid of its own, and the latter company has admitted holding early-stage talks with the former. But an Iliad-Bouygues deal is viewed as easier for regulators to stomach.
Reports EU regulators are set to approve Telefonica's bid for German rival E-Plus (following concessions) could suggest Brussels is willing to sign off on French consolidation, depending on the details.