cheap replica handbags Company logos for French telecom operator Orange, on a tablet screen, and Bouygues Telecom, on a mobile phone screen, are seen in this illustration photo taken in Nice, France, April 1, 2016. REUTERS/Eric GaillardThe deal would have created the dominant player in an industry damaged by fierce competition, but collapsed on Friday morning with Bouygues deciding not to sell his telecoms business to the former state monopoly even though he had floated the idea himself four months earlier.The fact Bouygues had confirmed that the unprofitable telecom service provider he founded in 1994 was for sale made his rivals and Economy Minister Emmanuel Macron think the businessman had decided he had no choice but to sell, said four people involved in the talks who spoke to Reuters on Saturday and Sunday.For the deal to go through, Iliad and SFR would have had to agree to buy some Bouygues Telecom assets to ease competition concerns.Spokespeople for the French Economy Ministry, Orange, Bouygues, SFR and Iliad declined to comment for this story.The weeks of deliberations were the best chance in years to take a contender out of the game and ease competitive pressures that had hammered profits in the industry and drained the capital needed for network investments to better serve an increasingly data driven economy.The deal collapse is a blow not just for the companies but for the French government.The perception among Martin Bouygues rivals that they had the upper hand proved decisive on March 24 when a stand off between the 63 year old businessman and 38 year old Macron came to a head and Bouygues stormed out of a meeting at the economy ministry, according to two of the sources.Bouygues felt humiliated by Macron demands, said one of the sources, who is a banker. The scene highlighted the rocky relationship between France Socialist government and Bouygues, who is godfather to a son of former right wing president Nicolas Sarkozy.CONTROL OF ORANGE The complex telecoms merger, whose price tag Bouygues fixed at 10 billion euros ($11.4 billion) in cash and Orange shares, would have made the conglomerate the second biggest shareholder in Orange after the French state, which would have seen its stake diluted.For Macron, a former Rothschild Cie banker, that raised questions about the role Bouygues would play in Orange which owns and manages submarine cables that are central to France surveillance apparatus, making it a strategic asset for the government.Macron did not want to be perceived as having let Bouygues gain control. cheap replica handbags
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