Bouygues, the lead bidder for French telecoms operator SFR, believes its €20bn break-up plan can secure regulatory approval despite merger concerns. The company is banking on the EU's push for stronger competition to outweigh antitrust worries surrounding the deal.

SFR's potential separation comes as parent company Altice seeks to address mounting debt while restructuring its European operations. The €20bn valuation reflects the complex asset carve-out strategy that would reshape France's telecommunications sector.

EU regulators have historically scrutinized telecom mergers closely, particularly those reducing market players. Bouygues argues that promoting competition aligns with European policy priorities, potentially smoothing the approval process for its acquisition approach.

The outcome will signal how European competition authorities balance market consolidation against their pro-competition mandate. Telecom investors watch closely as this deal tests regulatory appetite for major sector transactions.