PARIS (Reuters) - France's Bouygues Telecom has agreed to sell its mobile network and much of its spectrum to smaller rival Iliad if its pending bid for Vivendi's SFR is successful.
Iliad will pay up to 1.8 billion euros ($2.50 billion) for the BOUYGUES (EN.PA)assets, according to both companies' statements.
"This agreement allows us to present to the (French) antitrust authorities a merger proposal that ensures strong competition on the French mobile market," Bouygues Chief Executive Martin Bouygues said. ($1 = 0.7214 Euros)
(Reporting by Leila Abboud and Gwenaelle Barzic; Editing by Lionel Laurent)
