- Orange (ORAN +0.8%) CEO Stephane Richard describes a "positive dynamic" in talks to merge with competitor Bouygues (OTCPK:BOUYY) -- though he believes the odds of a deal are 50/50.
- "I can't say at this point whether it will be at the end of February [when talks conclude] or the start of March, but that will be around that time," Richard says. He had previously hoped for a sealed deal by the time Orange reports earnings on Feb. 16.
- Orange is proposing buying its rival for about €10B in cash and stock; it would create a new telecom giant in France, and the company has already approached Iliad and Numericable-SFR about selling assets from Bouygues that Orange would have to divest to enable a deal.
- Previously: Bloomberg: Orange pitching Bouygues deal to France this week (Jan. 27 2016)
- Previously: Orange chief: Bouygues deal will have to create value, boost investment (Jan. 12 2016)
Orange CEO: Bouygues merger talks 'positive,' should wrap this month
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