Three of France's mobile operators have agreed a joint bid worth 20.4 billion euros ($23.5 billion) for rival SFR, owned by indebted French-Luxembourg telco group Altice.

Le consortium avait présenté le 17 avril une nouvelle offre valorisant les actifs concernés à 20,35 milliards d’euros en valeur d’entreprise.

If approved by regulators, the Bouygues-led acquisition would rank among the biggest European telecoms deals in recent years.