Yet another chapter in the cellular operator consolidation of France has passed without a transaction happening, with the Bouygues Board turning down the opportunity to speak in more depth with Altice – claiming that the telecoms market is about to go through a period of unprecedented growth, and Bouygues is well placed to benefit from it. Well if the Bouygues board is seeing green-shoots of telecoms recovery, then it is the only one who is. The entire fixed and cellular operator market across Europe seems hell bent on consolidation, and the key reason is that quad pay economics, OTT and WiFi first wireless service innovation, has decimated profits and revenue growth. Quite simply the Bouygues board is out of touch…