PARIS Reuters - Telcoon Patrick Drahi is in talks with Eutelsat to buy French firm Eutelsat in a deal that would see one of his investment vehicles take direct control over the Paris-listed satellite operator, two sources familiar with the matter told Reuters.
Drahi is working with banks on the project and recently made a bid proposal for Eutelsat which has a market value of 2.3 billion euros $1.96 Billion backed by state investor Bpifrance with a 20% stake, sources said, speaking in anonymity.
Eutelsat, one of the world's leading commercial satellite operators, has turned down Drahi’s initial proposal, one of the sources said adding that the price was deemed too low but talks remained active.
Patrick Drahi and Eutelsat were not immediately available to comment.