Orange Signs Agreement to Acquire SFR in €20.35 Billion French Telecom Consolidation

Phoenix Tower International Acquires Infracos JV from Bouygues Telecom and SFR

December 24, 2025

Telecommunications

Phoenix Tower International (PTI) has closed the acquisition of Infracos, the joint venture owned by Bouygues Telecom and SFR that manages approximately 3,700 wireless sites across France. The deal expands PTI's French footprint to nearly 10,000 sites and increases its global portfolio to more than 33,000 towers; Bouygues Telecom and SFR were the selling parties.

CONX Corp. Acquires Controlling Stake in RED Technologies SAS

December 5, 2024

Telecommunications

CONX Corp., through its subsidiary RED Tech US, LLC, acquired approximately 68% of Paris-based RED Technologies SAS for a maximum purchase price of about EUR 18.6 million in cash, with the remaining shares to be acquired upon achievement of milestones. The acquisition positions CONX to expand its spectrum-sharing and private network capabilities in the CBRS market and accelerate RED Technologies' product development and U.S./international growth.

Verizon to Acquire Frontier Communications in $20 Billion All-Cash Deal

September 5, 2024

Telecommunications

Verizon Communications has entered into a definitive agreement to acquire Frontier Communications Parent, Inc. in an all-cash transaction valued at approximately $20 billion ($38.50 per share). The deal is intended to expand Verizon’s fiber footprint and integrate Frontier’s fiber network into Verizon’s Fios platform, with an expected closing in about 18 months subject to approvals.

Teleperformance Acquires Majorel

July 2, 2024

IT Services

Teleperformance announced a proposed cash and share offer to acquire Majorel, valuing the deal at about €3 billion (Offer: €30 per Majorel share). Teleperformance subsequently completed the acquisition in November 2023 and expanded its presence in Europe, particularly France and Germany.

ORANGE and MASMOVIL to combine Spanish operations in 50-50 joint venture

July 23, 2022

Telecommunications

ORANGE and MASMOVIL have signed a binding agreement to combine their Spanish businesses into a 50-50 joint venture (LORCA JVCO) based on an enterprise value of €18.6 billion (€7.8bn for ORANGE Spain and €10.9bn for MASMOVIL). The deal, backed by a €6.6bn non‑recourse debt package and expected to generate >€450m of annual synergies by year four, is subject to antitrust and regulatory approvals and is targeted to close by H2 2023, with a path to an IPO under certain conditions.

T‑Mobile US / Deutsche Telekom Acquires Sprint from SoftBank (challenged in federal antitrust suit)

June 17, 2022

Telecommunications

T‑Mobile US (controlled by Deutsche Telekom) completed its acquisition of Sprint, previously controlled by SoftBank Group, consolidating the U.S. wireless market from four national carriers to three. Plaintiffs filed a federal class action alleging the merger reduced competition and caused billions in higher wireless prices for consumers and businesses.