The telecommunications group Orange announced on Friday the creation of Orange Concessions, in association with a group of investors who will hold 50%, to support the development of fiber in rural areas.
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Orange said in a press release that it had accepted the offer of a consortium comprising La Banque des Territoires (Caisse des Dépôts), CNP Assurances and EDF Invest, to take a 50% stake and co-control of Orange Concessions. .
The transaction values Orange Concessions at 2.675 billion euros, the press release said.
It should be finalized by the end of 2021. Orange will have a forward purchase option allowing it to take control and consolidate Orange Concessions.
"Leading operator of fiber optic networks"
The new entity, which brings together 23 networks of public initiatives representing 4.5 million outlets built or to be built, will be
"the first operator of fiber optic networks to the subscriber (FTTH)"
in rural areas in France, points out Orange.
"With this partnership, Orange is giving itself the means to continue to develop fiber in rural areas, by winning new public initiative networks or by participating in the market consolidation dynamic"
, declared its CEO Stéphane Richard, cited in the press release.
The group notes that the networks operated by Orange Concessions on behalf of local authorities will be open to all operators.
The Banque des Territoires, CNP Assurances and EDF Invest affirm, in a separate press release, that they intend to
"contribute alongside Orange and local authorities to ensuring that Orange Concessions fulfills its missions of deployment and operation of the various networks "
.
These networks
"must become an important element of attractiveness and competitiveness of each of these territories"
, they add.
