Bouygues-Led Group in Advanced Talks on Deal for SFR

A consortium led by Bouygues Telecom is moving closer to a provisional agreement to acquire the French business of billionaire Patrick Drahi’s telecom company Altice, people with knowledge of the matter said.

The investor group, which also includes Iliad SA and Orange SA, is in advanced negotiations on terms of a potential deal for SFR and an announcement could be made as soon as the coming days if talks go well, according to the people. Drahi has been seeking a valuation of more than €20 billion ($23.6 billion) for SFR, some of the people said.