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BOUYGUES

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Orange says Bouygues Telelcom acquisition unlikely to impact credit rating

02/24/2016 | 12:12pm EDT

BARCELONA (Reuters) - Orange's (>> ORANGE SA) credit rating is unlikely to be impacted by the potential acquisition of Bouygues Telecom, Chief Financial Officer Ramon Fernandez said in an interview with Reuters on Wednesday.

BARCELONA (Reuters) - Orange's (>> ORANGE SA) credit rating is unlikely to be impacted by the potential acquisition of Bouygues Telecom, Chief Financial Officer Ramon Fernandez said in an interview with Reuters on Wednesday.

"It will depend on the terms of the transaction, but it's unlikely," Fernandez said in the Orange stand at the annual Mobile World Congress held in Barcelona. "We have a very strong balance sheet," he added.

The leading French telecoms operator holds an investment-grade rating with all three major credit rating companies. Its grade is Baa1 at Moody's, BBB+ at Standard & Poor's and Fitch Ratings.

Orange resumed talks in January to buy Bouygues' telecoms unit in a complex 10 billion-euro transaction that would cut the number of French telecoms operators to three and make Bouygues one of Orange's two main shareholders after the French state.

Orange is holding parallel talks with Numericable-SFR (>> Numericable Group) and Iliad (>> ILIAD), as any deal would require selling Bouygues Telecom's assets to rivals to ease competition concerns.

Echoing comments made by Bouygues's chief executive officer Martin Bouygues on Wednesday, Fernandez said the talks must reach a conclusion, either positive or negative, in March.

"The month of March will be key," Fernandez said. "It's in everyone's best interest that talks don't go on indefinitely."

(Reporting by Mathieu Rosemain; editing by Michel Rose)

Stocks treated in this article : BOUYGUES, ORANGE SA, ILIAD, Numericable Group

ę Reuters 2016
Stocks mentioned in the article
ChangeLast1st jan.
BEST INC. -3.14% 1.85 Delayed Quote.-9.31%
BOUYGUES -0.67% 35.83 Real-time Quote.6.48%
ILIAD -0.11% 182 Real-time Quote.8.27%
ORANGE 0.02% 9.33 Real-time Quote.-4.15%
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Analyst Recommendations on BOUYGUES
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Financials
Sales 2021 37 117 M 43 493 M 43 493 M
Net income 2021 1 069 M 1 252 M 1 252 M
Net Debt 2021 2 400 M 2 812 M 2 812 M
P/E ratio 2021 12,7x
Yield 2021 4,76%
Capitalization 13 684 M 16 023 M 16 034 M
EV / Sales 2021 0,43x
EV / Sales 2022 0,41x
Nbr of Employees 129 000
Free-Float 55,4%
Chart BOUYGUES
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Bouygues Technical Analysis Chart | EN | FR0000120503 | MarketScreener
Technical analysis trends BOUYGUES
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 16
Last Close Price 35,83 €
Average target price 39,33 €
Spread / Average Target 9,77%
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Managers and Directors
Olivier Roussat Chief Executive Officer
Pascal GrangÚ Chief Financial Officer, Deputy CEO & SVP
Martin Bouygues Chairman
Gilles Zancanaro Senior Vice President-Digital, Innovation & Risks
Colette Lewiner Independent Director
Sector and Competitors