French telecom operator Orange has reached an agreement with a consortium of three investors to sell a portion of its fiber assets for €1.3 billion ($1.6 billion), Reuters reports.
Under the agreement, La Banque des Territoires, CNP Assurances and EDF Invest will purchase a 50 percent equity interest and co-control of Orange Concessions, a planned fiber-to-the-home (FTTH) operator of networks rolled out and operated on behalf of local public authorities in France.
This deal values Orange Concessions at €2.675 billion ($3.3 billion).
“I am delighted that Orange, Europe’s leader in fiber roll-out, is now set to establish this partnership in its domestic market with recognized investors who share our vision of digital communication infrastructure development,” said Stephane Richard, chairman and CEO of Orange.
Under the transaction, Orange Concessions will offer 23 public initiative networks representing more than 4.5 million built or to-b
