Exclusive-Telecoms tycoon Drahi in talks to buy French satellite firm Eutelsat - sources

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By Gwénaëlle Barzic and Pamela Barbaglia
PARIS (Reuters) -Telecoms tycoon Patrick Drahi is in talks to buy French firm Eutelsat in a deal that would see one of his investment vehicles take direct control of 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 approach for Eutelsat which has a market value of 2.3 billion euros ($1.96 billion) and is backed by state investor Bpifrance with a 20% stake, the sources said, speaking on condition of anonymity.
Eutelsat, one of the world's leading commercial satellite operators, has turned down Drahi's initial proposal, one of the sources said, adding the price was deemed too low but talks remained active.
Drahi and Eutelsat were not immediately available for comment. Bpifrance ...


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