A Bouygues Telecom-led consortium has entered due diligence with billionaire Patrick Drahi’s Altice Group for a fresh bid for its French business. This follows a first offer that was rejected in October, signaling a renewed push for one of France's largest mobile operators.

The move highlights ongoing consolidation in the French telecom sector, where players like Orange and Free compete fiercely. Altice has faced pressure to reduce its €20 billion debt, making a sale of its SFR unit a strategic priority to stabilize its finances.

Investors will watch for the consortium's valuation and potential regulatory hurdles. A successful deal could reshape the market, but financing and French government scrutiny remain key obstacles. The outcome may set a benchmark for future telecom mergers in Europe.