(MENAFN) Media magnate Patrick Drahi has offered over USD11.3 billion to buy out rival French mobile phone operator Bouygues Telecom in an "undesirable" move by the government, The Peninsula Qatar reported.
Drahi already owns France's second-biggest telecoms operator Numericable-SFR as part of his Altice group. Acquiring the telecom division would give him a dominant position in the sector.
"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. I say that consolidation is currently undesirable for the sector," Economy Minister said.