EXCLUSIVE: Orange, Iliad, Bouygues' SFR deal faces French antitrust s…

France's antitrust authority will examine Orange, Iliad and Bouygues' €20.35bn acquisition of SFR, reducing France's mobile operators from four to three; the investigation is expected to last at least 18 months. If you supply infrastructure, backhaul, or network services to French operators, you're about to see a three-player market instead of four—and 18 months of regulatory haggling that will freeze capex budgets and customer negotiations. Orange's already signalling behavioural remedies; watch who gets locked into what to clear this deal.