French telecoms operator SFR, controlled by billionaire Patrick Drahi, is changing hands in one of the year's biggest deals, as a group of telecom companies agreed to acquire it for $23.5 billion.
A landmark transaction
The agreement, reached in early June, ranks among the largest telecom transactions of 2026 and would reshape the competitive landscape in France's mobile and broadband market.
Consolidation wave
The deal lands amid a flurry of telecom M&A, including Vodafone's move to take full control of its UK joint venture. Operators are pursuing scale to fund network investment and counter intense price competition. The transaction remains subject to regulatory review.
Source: TeleGeography M&A roundup.