1. Bouygues, Iliad, and Orange submit €17 billion bid for Altice France assets

• A consortium composed of Bouygues Telecom, Free-Iliad, and Orange submitted a non-binding joint offer to acquire a major portion of Altice France’s telecom business (primarily SFR assets). Reuters

• The proposed division of ownership among the bidders would be: Bouygues ~ 43%, Iliad ~ 30%, and Orange ~ 27%. Reuters

• The bid excludes certain Altice interests (such as Intelcia, UltraEdge, XP Fibre, Altice Technical Services, and overseas operations). Reuters

• If approved, the merger would reduce the number of major telecom operators in France (currently four) and lead to greater consolidation. Reuters

• The French finance minister has responded by saying he will be “extremely vigilant” regarding consumer protection and market competition consequences. Reuters

Implications / Observations

• This is one of the largest European telecom M&A moves in 2025 and may reshape the French telecom landscape.

• Regulators will likely scrutinize the deal for anti-trust issues, network redundancy, pricing effects, and service quality protections.

• For vendors and infrastructure suppliers, consolidation may mean more centralized procurement and potential scale advantages.

• The deal also suggests that operators continue to pursue growth via acquisition and consolidation in saturated markets instead of purely organic expansion.

2. Ericsson beats expectations in Q3; shares surge

• Swedish telecom equipment maker Ericsson delivered adjusted EBIT (excluding restructuring) of 15.4 billion Swedish crowns for Q3, above consensus estimates. Reuters

• The company attributed part of the gain to a one-time profit from the sale of its Iconectiv business (~7.6 billion crowns) in August. Reuters

• Despite concerns over U.S. tariffs, Ericsson downplayed potential negative impacts going forward. Reuters

• Following the earnings announcement, Ericsson’s share price jumped over 13%, marking its strongest trading day in years. Reuters

Implications / Observations

• Strong earnings give Ericsson more financial flexibility for R&D, network investments, dividends, or share buybacks.

• It helps send a positive signal to investors about vendor strength in a competitive and cost-pressured environment.

• However, the reliance on non-core divestments for profitability highlights that growth in its core segments remains challenging.

• Managing tariff risks, supply chain headwinds, and sustaining order books will be key for Ericsson in the near term.

3. America Movil posts threefold profit jump in Q3

• Latin American operator America Movil announced a more than threefold increase in net profit for Q3, driven by reduced financing costs and stronger mobile revenue growth. Reuters

• Revenue rose ~4.2% year-on-year to 232.92 billion Mexican pesos, with EPS of 0.40 MXN, in line with estimates. Reuters

• The operator added over 3 million postpaid mobile subscribers and ~526,000 fixed connections in key markets. Reuters

• America Movil is reportedly exploring potential acquisitions, including Telefónica’s Chilean assets, to consolidate its regional footprint. Reuters

Implications / Observations

• The financial strength shown in Latin America may position America Movil to pursue opportunistic M&A, especially in fragmented markets.

• Lower financing costs (likely due to favorable currency movements or debt restructuring) are helping mitigate margin pressure.

• Emphasis on mobile user growth continues to be a core driver of expansion, especially where fixed broadband markets are saturated.

4. Mission Telecom steps in amid U.S. E-Rate funding cuts

• In response to FCC decisions that ended E-Rate funding for school bus Wi-Fi and mobile hotspot subsidies, nonprofit Mission Telecom announced a program to match the post-discount cost for eligible schools and libraries. PR Newswire

• Their offer ensures continuity of 4G/5G Wi-Fi services and aims to prevent disconnections that would worsen the digital divide. PR Newswire

Implications / Observations

• This is a grassroots, market-based response to policy rollback, highlighting how nontraditional telecom actors (nonprofits, local ISPs) may fill gaps.

• It underscores the sensitivity of “anchor institutions” (schools, libraries) to regulatory changes in connectivity funding.

• For public policy watchers and telecom service planners, it shows how subsidy cuts can trigger new models of cost-sharing and social responsibility.