The proposed €20.35 billion ($23.25bn) carve-up of SFR's assets in France will be reviewed by the French antitrust watchdog.

The Autorité de la concurrence noted this week that the European Commission has decided the French regulator is best placed to make a decision on the deal that would see France's telecom operators shrink to three from four.

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Bouygues, Orange, and Free struck an agreement to acquire SFR's assets in France last month after lengthy negotiations.

The agreement will see Altice's mobile unit SFR split between the three telcos.