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Investing.com -- Blackstone (NYSE:BX) Inc. is considering a potential joint bid for French telecom operator SFR, owned by billionaire Patrick Drahi, according to Bloomberg, citing sources familiar with the matter.
The deal could value SFR at up to €30 billion ($35 billion) including debt. The New York-based investment firm has engaged in early talks with other possible bidders, including SFR competitors, as it evaluates the potential transaction.
Sources familiar with the matter indicate Blackstone would likely partner with another bidder due to the operational requirements of running the Altice France SA-owned carrier.
The discussions remain in preliminary stages, and Blackstone might ultimately decide against making an offer. Other private equity firms are also reportedly holding conversations about possible partnerships with French carriers for joint bids on SFR.
In June, Blackstone Chief Executive Officer Steve Schwarzman announced plans to invest up to $500 billion in Europe over the next decade, highlighting the region’s appeal as governments increase military spending.
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