PARIS: Shares of French group Bouygues rose on Friday after Altice, the parent company of cable operator Numericable, showed interest in its telecoms subsidiary, signalling another possible tie-up in France's mobile phone market.
In morning trade in Paris, the stock climbed 3.66 percent to 29.89 euros in a market up 0.94 percent.
Altice, which signalled its interest in Bouygues Telecoms on Thursday, is currently finalising its acquisition of another French mobile phone operator SFR.
"At this time, we are in the process of integrating SFR, but if we receive a call from Bouygues on Friday, well why not?" said Altice CEO Dexter Goei, quoted by Dow Jones Newswires.
The company owned by French-Israeli billionaire Patrick Drahi beat Bouygues in the race for SFR in April, offering Vivendi 13.5 billion euros in cash as well as an eventual additional sum of 750 million euros.
If the Bouygues group, which also includes construction and media units, exits the telecommunications business, "it can only be positive for shareholders while the fundamentals of the sector and those of Bouygues Telecom in particular are expected to remain under pressure," a Parisian trader said requesting anonymity.
"In general the consolidation of the (telecoms) sector would be good for all actors, including Orange," he added.
Other French operators also saw their shares rise in early trading Friday with Orange up 2.64 percent to 13.395 euros, Numericable gaining 3.90 percent to 31.95 euros, and Iliad, owner of low-price operator Free, climbing 2.94 percent to 196.15 euros.
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