On July 15, 2026, the European Commission referred the review of Iliad's acquisition of certain assets from Altice France to the French competition authority, Autorité de la concurrence. This acquisition involves Iliad gaining sole control over specific assets currently held by Altice France, particularly in the electronic communications sector.

The Iliad transaction is part of a larger consortium that includes Bouygues Telecom and Orange, aimed at acquiring various assets and activities of the Altice group in mainland France. The transactions are interconnected and primarily focus on the fixed and mobile telecommunication markets within the country.

Discussions between Orange, Bouygues Telecom, and the Autorité de la concurrence began on June 30, 2026, with the submission of pre-notification documents. These discussions are intended to prepare for formal notifications to the authority, which will occur at a later date. With the referral decision, Iliad is now also able to engage in discussions with the competition authority.

The European Commission determined that the Autorité de la concurrence is best suited to examine the Iliad transaction due to its potential impact on the French market and the authority's experience in the telecommunications sector. The Autorité will review this transaction alongside the related transactions involving Orange and Bouygues Telecom, with a decision expected after at least 18 months of review.

This referral marks the 50th transaction referred by the European Commission to the Autorité de la concurrence since 2009, highlighting the flexibility of the EU merger control regime.